Consider the following stock return data:

a. Construct the Markowitz portfolio model using a required expected return of 15 percent.
Assume that the 12 scenarios are equally likely to occur.
b. Solve the model using Excel Solver.
c. Solve the model for various values of required expected return and plot the efficient frontier.

0.103 0.2160. -0.046 0.07 Stock I 0.300 Stock 2 0.225 0.290 0.216 -0.272 Stock 3 0.149 0.260 0419 -0078 0.056 0.107 0.169-0.035 0.144 Stock 0.038 0.089 0.090 Stock 2 0.321 0.305 0.195 Stock 3 0.133 0.732 0.021 10 0.083 0.390 0.131 0.035 -0.072 0.006 12 0.176 0.715 0.908