Consider the following scenario analysis:

rate of return
scenario probability stocks bonds
recession 0.20 -5% 14%
normal economy 0.60 15 8
boom 0.20 25 4
assume a portfolio with weights of .60 in stocks and .40 in bonds.

(a) what is the rate of return on the portfolio in each scenario? (do not round intermediate calculations. enter your answer as a percent rounded to 1 decimal place.)
(b) what are the expected rate of return and standard deviation of the portfolio? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.)

Kirnon clinic uses client-visits as its measure of activity. during july, the clinic budgeted for 3,250 client-visits, but its actual level of activity was 3,160 client-visits. the clinic has provided the following data concerning the formulas to be used in its budgeting: fixed element per month variable element per client-visitrevenue - $ 39.10personnel expenses $ 35,100 $ 10.30medical supplies 1,100 7.10occupancy expenses 8,100 1.10administrative expenses 5,100 0.20total expenses $ 49,400 $ 18.70the activity variance for net operating income in july would be closest to: