Determining the portfolio beta

Question

Problem:

You have a $57,400 portfolio consisting of Intel, GE and Con Edison. You put $22,300 in Intel, $11,900 in GE and the rest in Con Edison. Intel, GE and Con Edison have betas of 1.5, 1.0 and 1.2 respectively.

Required:

Question: What is your portfolio beta?

• 3.475
• 1.275
• 3.675
• 1.805

Note: Show supporting computations in good form.