Answer:
w and y are knights
Step-by-step explanation:
 
        
             
        
        
        
1.6 I think I’m sorry if it’s incorrect
        
             
        
        
        
Answer:
22.5%
Step-by-step explanation:
let the standard deviation for market portfolio = σₙ
Also let the standard deviation for fully diversified portfolio = σₓ
<u>To calculate fully diversified portfolio</u>
fully diversified portfolio has <em>σₓ = βσₙ</em>
From the given question beta (β) = 1.25
Also standard deviation for market portfolio (σₙ)  = 18% = 0.18
<em>From the equation above,  σₓ = βσₙ </em>= 1.25×0.18 = 0.225
                                                              = 22.5% (converting to percentage) 
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I'm not sure what your book is saying about the matter but a cell phone is not usually an essential expense. If it is saying it is though, it would be an essential flexible expense.