11. Probabilities range from -100% to 100%. 12. When two states of the economy have probabilities of 50% and their possible returns are 8% and -10%, the expected return 40%. 15. The APR for the stock in #14 > 15%. 16. The EAR for the stock in #14 > 10%. 17. The average of 10%, 20%, -10% and 0% is less than 6%. 18. The standard deviation of the returns in #17 is more than 15%. 19. An equally weighted portfolio containing stocks with betas of 1.2 and 0.6 would have a beta