2.37 Portfolio return: A portfolio's value increases by 16% during a financial boom and by 5% during normal times. It decreases by 12% during a recession. What is the expected return on this portfolio if each scenario is equally likely? % (round to the nearest whole percent) 2.38 Baggage fees: An airline charges the following baggage fees: $20 for the first bag and $40 for the second. Suppose 52% of passengers have no checked luggage, 31% have only one piece of checked luggage and 17% have two pieces. We suppose a negligible portion of people check more than two bags. a) The average baggage-related revenue per passenger is: $ (please round to the nearest cent) b) The standard deviation of baggage-related revenue is: $ (please round to the nearest cent) c) About how much revenue should the airline expect for a flight of 110 passengers? $ (please round to the nearest dollar) 2.44 Cat weights: The histogram shown below represents the weights (in kg) of 47 female and 97 male cats. Cat weight histogram a) Approximately % of these cats weigh less than 2.5kg. b) Approximately % of these cats weigh between 2.5 and 2.75kg. c) Approximately % of these cats weigh between 2.75 and 3.5kg. https://myopenmaths3.s3.amazonaws.com/qimages/cat_weights.png