please show me step by step how to answer this with formulation. Thank you in advance :)

3. Assume you have access to two possible assets and consider investing in them for one year. The first one Alpha has an expected return of 5% and -2% with equal probability and the other Beta an expected return of 10% and 2% with equal probability. a. Calculate the expected return and volatility (standard deviation) for both assets. b. Assume Alpha and Beta are perfectly correlated (e.g. if alpha has a return of 5%, beta has a return of 10%). What is the expected return and volatility for the average of the two assets? c. Assume Alpha and Beta are perfectly negatively correlated (e.g. if alpha has a return of 5%, beta has a return of 2%). What is the expected return and volatility for the average of the two assets? d. Which of the four assets would you prefer? Explains