1.

Assume that the economy has an 30% chance of booming, a 33% chance of being normal, and being recessionary the remainder of the time. A stock is expected to return 24.58% in a boom economy, 11.18% in a normal economy, and -12.82% in a recession economy. What is the standard deviation of returns on the stock? Enter your answer as a percentage, rounded off to two decimal points. Do not enter % in the answer box