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Assume that the economy can experience four possible states: high growth, normal growth, recession, or depression. For each of those states, you expect the following

Assume that the economy can experience four possible states: high growth, normal growth, recession, or depression. For each of those states, you expect the following stock market returns for the coming year:
\table[[State of the Economy,Probability,Return],[High Growth,0.2,+20%
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