Problem $11\mathrm{.}1$: Please layout your calculation of this problem in the excel file that needs to be submitted on Connect.

Based on the following information:

$\backslash$table$[[\backslash$table$[[$State of$],[$Economy$]],\backslash$table$[[$Probability of$],[$State of$],[$Economy$]],\backslash$table$[[$Return on$],[$Stock J$]],\backslash$table$[[$Return on$],[$Stock K$]]],[$Bear$,\mathrm{.}26,-\mathrm{.}021,\mathrm{.}033],[$Normal$,\mathrm{.}61,\mathrm{.}137,\mathrm{.}061],[$Bull$,\mathrm{.}13,\mathrm{.}217,\mathrm{.}091]]$

a$.$ Calculate the expected return for each of the stocks. $($Do not round intermediate calculations and enter your answers as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ Calculate the standard deviation for each of the stocks. $($Do not round intermediate calculations and enter your answers as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

c$.$ What is the covariance between the returns of the two stocks? $($Do not round intermediate calculations and round your answer to $6$ decimal places, e$.$g$.,\mathrm{.}161616.)$

d$.$ What is the correlation between the returns of the two stocks? $($Do not round intermediate calculations and round your answer to $4$ decimal places, e$.$g$.,\mathrm{.}1616.)$

Please lay out inital input of the problems and your calculations of expected returns, standard deviation for each stock and covariance and correlation betwen the returns of these two stocks in the excel file. $($Excel part: $10$ points$)$