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Consider the following information: State of Economy Probability of State of Economy Rate of Return if State Occurs Recession .21 .08 Normal .35 .15 Boom
| Consider the following information: |
| State of Economy | Probability of State of Economy | Rate of Return if State Occurs |
|---|---|---|
| Recession | .21 | .08 |
| Normal | .35 | .15 |
| Boom | .44 | .32 |
| Calculate the expected return. |
Multiple Choice
-
18.53%
-
2.60%
-
18.36%
-
16.77%
-
17.65%
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Managing The Audit Function A Corporate Audit Department Procedures Guide
Authors: Michael P. Cangemi
2nd Edition
0471012556, 978-0471012559
