1. Question 1 Using the estimation technique described in Step 3.1, what percentage of your investment would you allocate to WFC and MSFT, respectively, to arrive at a portfolio with the minimum variance? 55%; 45% 45%; 55% 40%; 60% 60%; 40% 1 point 2. Question 2 Using the Solver technique described in Step 3.2, what more precise percentage of your investment would you allocate to WFC and MSFT, respectively, to arrive at a portfolio with the minimum variance? 59.2%; 40.8% 44.3%; 55.7% 44.7%; 55.3% 55.3%; 44.7% 1 point 3. Question 3 Using the same Solver techniques, what would be the weight for WFC in the "optimal risky portfolio" on the efficient frontier consisting of WFC and MSFT? Write your answer as a percentage, with no percentage symbol ("%"), rounded to the nearest tenth percentage point (e.g., you would write "48.1234%" as "48.1", not "0.481234"). Hint: Your goal now is to find the maximum value of the Sharpe Ratio of the portfolio. Assume the "risk free asset" rate = 0. Enter answer here 1 point 4. Question 4 Compare your optimal risky portfolio characteristics to those of the two individual stocks used in the portfolio. What do you find? The optimal risky portfolio displays a lower Sharpe Ratio than either of the two stocks used in the portfolio. The optimal risky portfolio displays the same Sharpe Ratio as at least one of the two stocks used in the portfolio. The optimal risky portfolio displays a higher Sharpe Ratio than