Problem 7-12 Diversification Here are the percentage returns on two stocks. Month January February March April May June July August Digital Cheese 15% -4 5 7 -5 3 -3 -9 Executive Fruit 7% 2 3 15 1 5 -5 - 3 a-1. Calculate the monthly variance and standard deviation of each stock. (Do not round intermediate calculations. Round your answers to 1 decimal places.) Answer is complete and correct. Variance Standard deviation % Digital Cheese 53.6 7.3 Executive Fruit 33.6 5.8 a-2. Which stock is the riskier if held on its own? Digital Cheese 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.) Answer is complete but not entirely correct. 30.1 % Variance Standard deviation % 5.5 X c. Is the variance more or less than half way between the variance of the two individual stocks? more than the 50%-50% less than the 50%-50%