Suppose Johnson & Johnson and Walgreen Boots Alliance have expected returns and volatilities shown here, $,$ with a correlation of $23\%.$ Calculate $($a$)$ the expected return and $($b$)$ the volatility $($standard deviation$)$ of a portfolio that is equally invested in Johnson & Johnson's and Walgreens' stock.

a$.$ Calculate the expected return.

The expected return is $\%.($Round to one decimal place.$)$

b$.$ Calculate the volatility $($standard deviation$).$

The volatility is $\%.($Round to one decimal place.$)$

Data table

$($Click on the following icon in order to copy its contents into a spreadsheet.$)$

$\backslash$table$[[,$Expected Return,Standard Deviation$],[$Johnson & Johnson,$7\mathrm{.}5\%,14\mathrm{.}5\%$