Required Elements (all elements must be in Sheet 1 in your Excel file) (1) For each possible outcome, calculate the payout if you invest half of the money in each portfolio. Your average needs to be in column E. For example, the average of cells C3 and D3 needs to be in cell E3. (Although this element will not be graded directly, these are necessary calculations for other elements that will be graded.) (2) In cell C205, calculate the average payout of all portfolio X outcomes. In cell C206, calculate the standard deviation. (3) In cell D205, calculate the average payout of all portfolio Y outcomes. In cell D206, calculate the standard deviation. (4) In cell E205, calculate the average payout of the even split of money invested in the portfolios X and Y. In cell E206, calculate the standard deviation. (5) Determine if each investment strategy could have a negative return. In cell C210 (for portfolio X), D210 (for portfolio Y), and E210 (for an even split of money invested in each portfolio). If a negative return is possible, enter the number 1 in the respective cell; otherwise, enter 0. (Note: If it is helpful, use the MIN function in Excel to find the minimum payout for each column in cells C208, D208, and E208.) (6) In cell D215, calculate the correlation of portfolio Xs and Ys rate of return. The function in Excel for correlation is CORREL. (7) Graph 1: Create a histogram of the payouts of portfolio X. Format the horizontal axis to have 5 bins. After you have created a histogram with 5 bins, enlarge the graph if necessary to see the range of each bin. Include an appropriate axis title for each axis. (Notes: In some versions of Excel, double clicking the numbers on the horizontal axis will open up the Format Axis feature. Also in some Excel versions, if you single click in the histogram, a + will appear just outside the upper right corner. If you click the + sign, you can add axis titles. Make sure to label each axis appropriately.)