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Consider the following information: State of Economy Probability of State of Economy Rate of Return if State Occurs Recession .21 .02 Normal .35 .12 Boom
Consider the following information:
| State of Economy | Probability of State of Economy | Rate of Return if State Occurs |
| Recession | .21 | .02 |
| Normal | .35 | .12 |
| Boom | .44 | .23 |
| Required: |
| Calculate the expected return. Answers 13.21 13.90 14.60 2.20 14.46 |
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