Calculating Portfolio Betas
You own a stock portfolio invested 23 percent in Stock Q, 22 percent in Stock R, 43 percent in Stock S, and 12 percent in Stock T. The betas for these four stocks are .87, .93, 1.33, and 1.78, respectively.
Required:
What is the portfolio beta? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)