Based on the following information, calculate the expected return, variance and standard deviation:

State of the Economy	Probability	Rate of Return
Depression	5%	-5.0%
Recession	10%	4.0%
Normal	60%	8.0%
Boom	25%	12.0%

Fill in the values in the spreadsheet and show formulas for all calculations

. D | Output area: G H I J K 1 Input area: Adj. Ret. Ret. Dev. Ret. Dev. Squared Variance Prob. Stock A Probability Return 3 State 4 Depression 5 Recession 6 Normal 7 Boom Stock A Depression Recession Normal Boom E(R) = Standard Deviation 000 OE