An investor has the following portfolio:A mutual fund manager is considering CSCO for portfolio inclusion. In his decision process he uses earnings estimate from four different analysts. The estimates and their probabilities of

being correct are presented in the table below:

What earnings estimate should the manager use in the valuation process?

$3\mathrm{.}17$

$2\mathrm{.}17$

$2\mathrm{.}53$