Problem:
You own a portfolio that is 15 percent invested in Stock X, 30 percent in Stock Y, and 55 percent in Stock Z. The expected returns on these three stocks are 8 percent, 11 percent, and 13 percent, respectively.
Required:
Question: What is the expected return on the portfolio? The answer should be given as a percentage.
Note: Be sure to show how you arrived at your answer.