A)For a highly-averse investor, set risk aversion coefficient, A so that the weight of Market portfolio, w_M = SR_M/As_M is around 0.5.

B)For a moderately-averse investor, set risk aversion coefficient, A so that the weight of Market portfolio, w_M = SR_M/As_M is around 0.9.

C)For a less-averse investor, set risk aversion coefficient, A so that the weight of Market portfolio, w_M = SR_M/As_M is around 1.5.

For B) and C), in case w_M > 1, you need to maximize the utility level using the old efficient frontier.Now in an empty cell, write down the formula for Utility value, U = E(R) - 0.5As².Then use Excel to maximize this cell using Data Solver with the following constraints:

1)all weights are positive;

2)w1+ w2 + ... + w5 >=35% (for sector 1)

3)w1 + w2 + ...+ w5 <= 40% (for sector 1)

4)w6 + w7 + ... + w10 >=8% (for sector 2)

5)w6 + w7 + ... + w10 <= 12% (for sector 2)

6)similar for other sectors;

7)w1 + w2 + ... w50 = 1

How to use excel solver for solving this data? which is x and y repectively thank you!