Possible Economic Condition	China (Steel)		Germany (Automobile)		Singapore (Financial)		Trinidad and Tobago (Oil)
	P	Ri	P	Ri	P	Ri	P	Ri
Boom	.60	12%	.30	15%	.50	20%	.50	16%
Recession	.20	7%	.10	7.5%	.30	10%	.20	8%
Normal	.20	9%	.60	10.5%	.20	15%	.30	13%

1. Calculate the E(Ri) for each economy and discuss the results;