Rate of Return if State Occurs State of Probability of Economy State of Economy Stock A Stock B Stock C Boom 0.65 0.07 0.15 0.33 Bust 0.35 0.13 0.03 ? 0.06 What is the expected return on an equally weighted portfolio of these three stocks? What is the variance of a portfolio invested 20% each in A and B and 60% in C?