Consider the following information State of Economy Probability of State of Economy Portfolio Return If State Occurs Recession 23 17 Normal 48 13 Boom 29 39 Calculate the expected return (Do not round intermediate calculations 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 .23 .17 Normal .48 .13 Boom .29

Consider the following information:

State of Economy	Probability of State of Economy		Portfolio Return If State Occurs
Recession		.23		.17
Normal		.48		.13
Boom		.29		.39

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

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