Question: In the Markowitz portfolio problem, the problem is stated as minimizing variance subject to a constraint on expected daily returns. a)Reformulate the Markowitz portfolio problem

In the Markowitz portfolio problem, the problem is stated as minimizing variance subject to a constraint on expected daily returns.

a)Reformulate the Markowitz portfolio problem to maximize the expected daily return subject to a constraint in variance by writing down the corresponding mathematical program.

b) What type of optimization problem is this?

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