Problem $13-9$ Returns and Variances $($LO$1,2)$

Consider the following information:

$\backslash$table$[[,$Probability of$,$Rate of$,$Return if State,occurs$],[$Economy$,$Economy,Stock A$,$Stock B$,$Stock$],[$Boom$,0\mathrm{.}56,0\mathrm{.}13,0\mathrm{.}21,0\mathrm{.}39],[$Bust$,0\mathrm{.}44,0\mathrm{.}15,0\mathrm{.}04,-0\mathrm{.}07]]$

a$.$ What is the expected return on an equally weighted portfolio of these three stocks? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Expected return

$15\mathrm{.}39\%$

b$.$ What is the variance of a portfolio invested $20\%$ each in A and B and $60\%$ in C$?($Do not round intermediate calculations. Rou the final answer to $6$ decimal places.$)$

Variance