Returns on stocks X and Y are listed below: Period 1 2 3 4 5 6 7 Stock X 7% 1% -2% -3% 5% 11% 5% Stock Y -4% 10% 4% 8% 7% -1% -3% Consider a portfolio of 70% stock X and 30% stock Y. What is the (population) variance of portfolio returns? Please round your answer to six decimal places. Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel.

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