Following are three economic states, their likelihoods, and the potential returns:

Economic State ____Probability _____Return

Fast growth……………………..0.24………………….33

Slow growth…………………….0.49………………….15

Recession……………………….0.27…………………–38

Determine the standard deviation of the expected return. (Do not round intermediate calculations and round your answer to 2 decimal places.)