Rate of Return if State Occurs
State of Economy	Probability of State of Economy	Stock A	Stock B	Stock C
Boom	45%	0.18	0.40	0.22
Bust	55%	-0.06	-0.30	-0.05
Asset Weights		50%	25%	25%

What is the expected return of this portfolio?

3.65%

4.91%

4.56%

6.45%