The table below shows the expected rates of return for three stocks and their weights in some portfolio:

StockA StockB Stock C

Portfolio weights 0.4 0.2 0.4

State Probability Expected returns

Recession 0.2 0.07 0.03 0.11

Boom 0.8 0.12 0.05 0.12

Part 1

What is the portfolio return during a recession?

Part 2

What is the expected portfolio return?

Part 3

What is the standard deviation of the portfolio returns?