please include the excel formula within the work. I will need the formula to put in the cell that will show how I got the answer.

Jane is considering investing in three different stocks or creating three distinct twostock portfolios. Jane views herself as a rather conservative investor. She is able to obtain historical returns for the three securities for the years 2015 through 2021. The data are given in the following table.
	Year	Stock A	Stock B	Stock C
	2015	10%	10%	12%
	2016	13%	11%	14%
	2017	15%	8%	10%
	2018	14%	12%	11%
	2019	16%	10%	9%
	2020	14%	15%	9%
	2021	12%	15%	10%
In any of the possible two-stock portfolios, the weight of each stock in the portfolio will be 50%. The three possible portfolio combinations are AB, AC, and BC.
To Do
Create a spreadsheet similar to Tables 8.6 and 8.7 to answer the following:
a.	Calculate the average return for each individual stock.
b.	Calculate the standard deviation for each individual stock.
c.	Calculate the average returns for portfolios AB, AC, and BC.
d.	Calculate the standard deviations for portfolios AB, AC, and BC.
e.	Would you recommend that Jane invest in the single stock A or the portfolio consisting of stocks A and B? Explain your answer from a risk-return viewpoint.
f.	Would you recommend that Jane invest in the single stock B or the portfolio consisting of stocks B and C? Explain your answer from a risk-return viewpoint.
Solution
a.	Calculate the average return for each individual stock.
			Stock A	Stock B	Stock C
	Expected return	13.43%	11.57%	10.71%
b.	Calculate the standard deviation for each individual stock.
			Stock A	Stock B	Stock C
	Standard deviation
	Coefficient of variation
c.	Calculate the average returns for portfolios AB, AC, and BC.
		Year	Port. AB	Port. AC	Port. BC
		2015
		2016
		2017
		2018
		2019
		2020
		2021
	Expected return
d.	Calculate the standard deviations for portfolios AB, AC, and BC.
			Port. AB	Port. AC	Port. BC
	Standard deviation
	Coefficient of variation
e.	Would you recommend that Jane invest in the single stock A or the portfolio consisting of stocks A and B? Explain your answer from a risk-return viewpoint.
	Stock A has an expected return of	13.43%	with a standard deviation of	0.00%	.
	Investing in the portfolio has a standard deviation of	0.00%	, so there is both a
	amount of risk and return in the portfolio.
	We can see that the CV of the portfolio is		than that of stock A alone, so the portfolio of AB
	should be recommended.
f.	Would you recommend that Jane invest in the single stock B or the portfolio consisting of stocks B and C? Explain your answer from a risk-return viewpoint.
	Stock B has an expected return of	11.57%	with a standard deviation of	0.00%	.
	Investing in the portfolio comprised of stocks B and C delivers a return of		0.00%	and is
	associated with a standard deviation of	0.00%	. So both the return and risk of the portfolio are
		. Considering the CV, however, Jane, can determine that		is preferable to
		because the CV is lower.
								Points
1	In cells E30, F30 and G30, by using cell references to the given data, calculate the expected return of stocks A, B and C, respectively.	3
2	In cells E35, F35 and G35, by using cell references to the given data and the function STDEV.S, calculate the standard deviation of stocks A, B and C, respectively.	3
3	In cells E36, F36 and G36, by using cell references to the given data, calculate the coefficient of variation of stocks A, B and C, respectively.	3
4	In cell range E41:E47, by using cell references to the given data, calculate the expected return of portfolio AB for years 2015:2017.	7
5	In cell range F41:F47, by using cell references to the given data, calculate the expected return of portfolio AC for years 2015:2017.	7
6	In cell range G41:G47, by using cell references to the given data, calculate the expected return of portfolio BC for years 2015:2017.	7
7	In cells E48, F48 and G48, by using cell references to the given data, calculate the expected return of portfolios AB, AC and BC, respectively.	3
8	In cells E53, F53 and G53, by using cell references to the given data and the function STDEV.S, calculate the standard deviation of portfolios AB, AC and BC, respectively.	3
9	In cells E54, F54 and G54, by using cell references to the given data, calculate the coefficient of variation of portfolios AB, AC and BC, respectively.	3
10	In cell J59, type either higher or lower depending on your previous answers for stock A and portfolio AB.	1
11	In cell F61, type either more or less depending on your previous answers for stock A and portfolio AB.	1
12	In cell C69, type either higher or lower depending on your previous answers for stock B and portfolio BC.	1
13	In cell H69, type either stock B or portfolio BC depending on your previous answers for stock B and portfolio BC.	1
14	In cell C70, type either stock B or portfolio BC depending on your previous answers for stock B and portfolio BC.	1
15	Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed.	0