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Based on the following information, what is the standard deviation of returns? State of Economy Probability of State of Economy Rate of Return if State

Based on the following information, what is the standard deviation of returns?

State of Economy Probability of State of Economy Rate of Return if State Occurs

Recession .22 .090

Normal .47 .105

Boom .31 .215

13.51%

17.51%

16.05%

10.97%

12.04%

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