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Question 19 (4 points) Ravinder's Guitar Shop is expected to generate a 30% return in a boom market, a 15% return in a normal market,

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Question 19 (4 points) Ravinder's Guitar Shop is expected to generate a 30% return in a boom market, a 15% return in a normal market, and a minus 25% (i.e. -25%) return in a recession. There is a 40% probability of a boom market, a 40% probability of a normal market and a 20% probability of a recession. What is (a) the expected return (2 marks) and (b) the standard deviation (2 marks) of Ravinder's Guitar Shop

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