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4. What is the variance of the following returns? State Boom Good Probability Return 0.75 0.25 0.20 0.55 Recession 0.15 Depression 0.10 -0.10 -0.50

4. What is the variance of the following returns?

4. What is the variance of the following returns? State Boom Good Probability Return 0.75 0.25 0.20 0.55 Recession 0.15 Depression 0.10 -0.10 -0.50

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