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Consider the following information: State of Economy Probability of State of Economy Rate of Return if State Occurs Recession 0.21 -0.06 Normal 0.55 0.15 Boom

image text in transcribed Consider the following information: State of Economy Probability of State of Economy Rate of Return if State Occurs Recession 0.21 -0.06 Normal 0.55 0.15 Boom 0.24 0.21 Required: Calculate the expected return.

State of Economy Recession Normal Boom Probability of State of Economy 0.21 0.55 0.24 Rate of Return if State Occurs 0.06 0.15 0.21

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