Given the following probability distribution for assets A and B, Which asset is a better investment from a risk-averse investors perspective? If you equally invest in assets A and B by setting up a portfolio, what will be the portfolio return?

Asset A

Return	Probability
5%	0.20
6%	0.10
7%	0.30
8%	0.40

Asset B

Return	Probability
7%	0.35
9%	0.40
11%	0.25

Important Note:

1. Please do not use excel and provide a detailed explanation. I will upvote your answer right away. Thanks!

2. Please do not use Financial Calculator

3. Please use the following formula to calculate the portfolio return: R_p = W₁ X R_{1 +} W2 X R2 + .....( I am not sure but something similar)

4. Use old school formula method