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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 -0.08 Normal 0.55 0.15 Boom

Consider the following information: State of Economy Probability of State of Economy Rate of Return if State Occurs Recession 0.21 -0.08 Normal 0.55 0.15 Boom 0.24 0.33 Required: Calculate the expected return. rev: 09_20_2012 Multiple Choice 15.07% 13.77% 14.49% 15.21% 2.67%

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