4. Using the following returns, calculate the average returns, the variance and standard deviations for X and Y.

Probability	Return X	Return Y
25%	27%	0%
50%	10%	8%
25%	5%	20%

1. Use the information given in 4 to find expected return and variance for a portfolio that consists of 30% in X and 70% in Y. Do you notice any benefits to investing in the portfolio rather than each stock individually? Do not answer in excel form