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3. You have been given this probability distribution for the holding-period return for KMP stock: State of the Economy Probability HPR Boom .30 18 Normal

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3. You have been given this probability distribution for the holding-period return for KMP stock: State of the Economy Probability HPR Boom .30 18 Normal growth .50 120 Recession .20 - 5% i. What is the expected holding-period return for KMP stock? What is the expected standard deviation for KMP stock? 111. What is the expected variance for KMP stock? 11

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