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A stock will have a loss of 12.6 percent in a recession, a return of 11.3 percent in a normal economy, and a return of
A stock will have a loss of 12.6 percent in a recession, a return of 11.3 percent in a normal economy, and a return of 26 percent in a boom. There is 23 percent probability of a recession, 46 percent probability of normal economy, and 31 percent probability of boom. What is the standard deviation of the stock's returns?
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