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an 9 29 The following table reports forecasted returns for the stock of two different companies under three possible states of the economy: State Probability

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an 9 29 The following table reports forecasted returns for the stock of two different companies under three possible states of the economy: State Probability Stock A Stock B Expansion 15% 13.01% 17.31% Average 65% 9.42% 7.67% Recession 20% -1.26% -3.71% What is the standard deviation on a portfolio that consists of 45% of funds allocated to Stock A and the rest in Stock B? (Report answer in percentage terms and round to 2 decimal places. Do not round intermediate calculations)

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