a.What is the expected return on an equally weighted portfolio of these three stocks?(Do not round intermediate calculations & enter your answer as a percent rounded to 2 decimalplaces, ex 34.17

Consider the following information: State of Pruhahiiity of Stale Rate of Return if State Own Economy of Economy Stock A Stock B Shock C Boom 34 .12 .06 .42 Bust .26 .31 .37 .22 a. Whai is the expected return on an equally weighted portfolio of these three stocks? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Expeded retum "is b. What is me variance ofa pon'ioiio invested 29 percent each in A and E5 and 42 percent in C? {DO not round intermediate calculan'ons and round your answer 1.0 5 decimal places, e.g., 32.1 5161 .] Variance of a portfolio