Using the data in the following table, and the fact that the correlation of A and B is

0.51,

calculate the volatility (standard deviation) of a portfolio that is

80%

invested in stock A and

20%

invested in stock B. (Click on the following icon

in order to copy its contents into a spreadsheet.)

	Realized Returns
Year	Stock A		Stock B
2008	3%		30%
2009	12%		28%
2010	3%		8%
2011	3%		8%
2012	1%		14%
2013	9%		31%

Question content area bottom

Part 1

The standard deviation of the portfolio is

enter your response here%.

(Round to two decimal places.)