Consider the following information State of Economy Probability of State of Economy Portfolio Return if State Occurs Recession 15 22 Normal 51 17 Boom 34 31 Calculate the expected return (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e g , 32 16 )

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Consider the following information: State of Economy Probability of State of Economy Portfolio Return if State Occurs Recession .15 .22 Normal .51 .17 Boom .34

Consider the following information:

State of Economy	Probability of State of Economy	Portfolio Return if State Occurs
Recession	.15	.22
Normal	.51	.17
Boom	.34	.31

Calculate the expected return. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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