You are forming a portfolio consisting of three stocks. You invest 25% in Stock A, 50% in Stock B and 25% in Stock C. States, probabilities and returns are given in the table below:

State	Probability	Stock As return	Stock Bs return	Stock Cs return
Boom	30%	50%	20%	10%
Normal	60%	20%	15%	20%
Recession	10%	10%	5%	40%

A. Calculate the expected return on your portfolio. Show details of your calculations below. You may copy and paste a table from Excel below.

B. Calculate the variance and standard deviation of your portfolio. Show details of your calculations below. You may copy and paste a table from Excel below.