Sally Stricke Recently Commenced an Investment Portfolio Which Includes Assets

Sally Stricke recently commenced an investment portfolio which includes assets Nimasae, Memorest and Tenex about which Sally acquired the following financial information as to the likely returns at various probabilities:
$\begin{array}{lccc}\text { Probability } & \text { Likely Return } & \text { Likely Return } & \text { Likely Return } \\\text { of return (\%) } & \text { Nimasae (\%) } & \text { Memorest }(\%) & \text { Tenex (\%) }\\20 & 6 & 4 & 9 \\30 & 9 & 7 & 14 \\40 & 16 & 10 & 19 \\10 & 18 & 14 & 26\end{array}$
a) Calculate the expected return for each asset.
b) Calculate the expected return on a portfolio comprising each asset weighted as follows:
$\begin{array} { l c } \text { Asset } & \text { Weighting (\%) } \\\hline \text { Nimasae } & 20 \\\text { Memorest } & 55 \\\text { Tenex } & 25\end{array}$
c) Briefly explain to Sally benefit of combining the assets into a portfolio instead of undertaking individual investments in Nimasae, Memorest and Tenex.