Please show all work and complete by hand since that is how I have to learn it Please do not use Excel State of the Economy Probability of the States Percentage Returns Strong growth 20 13 Moderate growth 55 10 Recession 25 5 The expected return from investing in the asset is 9 9 35 10 10 55

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Please show all work and complete by hand since that is how I have to learn it. Please do not use Excel. State of the

Please show all work and complete by hand since that is how I have to learn it. Please do not use Excel.

State of the Economy	Probability of the States	Percentage Returns
Strong growth	20%	13%
Moderate growth	55%	10%
Recession	25%	5%

The expected return from investing in the asset is:

9.35%

10%

10.55%

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