he variance-covariance matrix pertaining to both Security X and Security Y is given as follows:

.

The expected return of Security X is denoted as E(R_X), and the expected return of Security Y is denoted as E(R_Y). Find the portfolio consisting of these two securities that has the minimum variance. The variance estimate of this minimum variance portfolio is __________.

Select one:

a. 19.6615

b. 14.0250

c. 18.4750

d. 17.4995

e. 15.2345