Problem 7-12 Diversification Here are the percentage returns on two stocks. Digital Cheese 17% Executive Eruit 7% Month January February March April May June July August do www 5 13 2 5 -4 -2 a-1. Calculate the monthly variance and standard deviation of each stock (Do not round intermediate calculations. Round your answers to 1 decimal places.) Digital Cheese Executive Fruit Variance Standard deviation % a-2. Which stock is the riskier if held on its own? O Digital Cheese O Executive Fruit a-2. Which stock is the riskier if held on its own? Digital Cheese O Executive Fruit b. Now calculate the variance and standard deviation of the returns on a portfolio that invests an equal amount each month in the two stocks. (Do not round intermediate calculations. Round your answers to 1 decimal places.) Variance Standard deviation % c. Is the variance more or less than half way between the variance of the two individual stocks? O more than the 50%-50% less than the 50%-50%