A portfolio manager summarizes the input from the macro and micro forecasters in the following table:

Calculate the following for a portfolio manager who is not allowed to short sell securities$.$ If allowed to short sell

securities$,$ the manager's Sharpe ratio is $0\mathrm{.}2473.$

a$.$ What is the cost of the restriction in terms of Sharpe's measure? $($Do not round intermediate calculations. Enter

your answer as decimals rounded to $4$ places.$)$

Cost of restriction

b$.$ What is the utility loss to the investor $(A=3\mathrm{.}5)$ given his new complete portfolio? $($Do not round intermediate

calculations. Round your answers to $2$ decimal places.$)$