Problem:
You have a $40,000 portfolio consisting of Intel, GE, and Con Edison. You put $23,200 in Intel, $8,000 in GE, and the rest in Con Edison. Intel, GE, and Con Edison have betas of 1.3, 1, and .8, respectively.
Required:
Question: What is your portfolio beta?
Note: Please explain comprehensively and give step by step solution.