A second version of the Markowitz portfolio model maximizes return subject to a constraint that the variance of the portfolio must be less than or equal to some specified amount. Consider the Hauck Financial Service data given below.

		Annual Return (%)
Mutual Fund	Year 1	Year 2	Year 3	Year 4	Year 5
Foreign Stock	13.72	13.96	14.90	42.39	-21.84
Intermediate-Term Bond	12.53	3.64	6.63	-3.60	5.93
Large-Cap Growth	30.26	20.94	31.18	40.22	-24.98
Large-Cap Value	28.29	24.08	14.94	7.29	-7.02
Small-Cap Growth	33.55	21.83	2.11	61.80	-7.02
Small-Cap Value	29.66	23.77	-6.58	-9.66	20.82

1. Construct this version of the Markowitz model for a maximum variance of 30.00. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. If required, round your answers to two decimal places. If the constant is "1" it must be entered in the box. Let: = proportion of portfolio invested in the foreign stock mutual fund = proportion of portfolio invested in the intermediate-term bond fund = proportion of portfolio invested in the large-cap growth fund = proportion of portfolio invested in the large-cap value fund = proportion of portfolio invested in the small-cap growth fund = proportion of portfolio invested in the small-cap value fund = the expected return of the portfolio = the return of the portfolio in year s

   	s. t.

   fill in the blank 2 + fill in the blank 3 + fill in the blank 4 + fill in the blank 5 + fill in the blank 6 + fill in the blank 7	=
   fill in the blank 8 + fill in the blank 9 + fill in the blank 10 + fill in the blank 11 + fill in the blank 12 + fill in the blank 13	=
   fill in the blank 14 + fill in the blank 15 + fill in the blank 16 + fill in the blank 17 + fill in the blank 18 + fill in the blank 19	=
   fill in the blank 20 + fill in the blank 21 + fill in the blank 22 + fill in the blank 23 + fill in the blank 24 + fill in the blank 25	=
   fill in the blank 26 + fill in the blank 27 + fill in the blank 28 + fill in the blank 29 + fill in the blank 30 + fill in the blank 31	=
   fill in the blank 32 + fill in the blank 33 + fill in the blank 34 + fill in the blank 35 + fill in the blank 36 + fill in the blank 37	=	fill in the blank 38
   	=
   		30
   		0

2. Solve the model developed in part (a). If required, round your answers to three decimal places. If your answer is zero enter "0". The optimal solution to this model is:

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   	=	fill in the blank 47