Expected return and standard deviation. Use the following information to answer the questions:

a.What is the expected return of each asset?

b.What is the variance and the standard deviation of each asset?

c.What is the expected return of a portfolio with 8% in asset J, 46% in asset K, and 46% in asset L?

d.What is the portfolio's variance and standard deviation using the same asset weights from part (c)?

State of Economy	Probability of State	Return on Asset J in State	Return on Asset K in State	Return on Asset L in State
Boom	0.28	0.05	0.22	0.3
Growth	0.39	0.05	0.12	0.23
Stagnant	0.23	0.05	0.06	0.09
Recession	0.1	0.05	-0.07	-0.2