Question
1. Bay Land, Inc. has the following distribution of returns: STATE RETURN PROBABILTIY Boom 0.3 0.25 Normal 0.4 0.15 Bust 0.3 0.30 Assuming that these
1. Bay Land, Inc. has the following distribution of returns:
| STATE | RETURN | PROBABILTIY |
| Boom | 0.3 | 0.25 |
| Normal | 0.4 | 0.15 |
| Bust | 0.3 | 0.30 |
Assuming that these returns are normally distributed, what is the probability that Bay Land, Inc. will return less than 7.25%? Show all work, and clearly explain and state your answer.
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CFIN
Authors: Scott Besley, Eugene Brigham
5th edition
1305661656, 9781305888036 , 978-1305666870
