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State of Economy Probability of State of Economy Rate of Return if State Occurs Recession 0.21 -0.12 Normal 0.48 0.14 Boom 0.31 0.33 Required: Calculate
State of Economy | Probability of State of Economy | Rate of Return if State Occurs | |
| 0.21 | -0.12 | |
Normal | 0.48 | 0.14 | |
Boom | 0.31 | 0.33 |
Required: Calculate the expected return.
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