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Suppose you have predicted the following returns for stocks X and Y in three possible states of nature. What are the expected returns? State X

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Suppose you have predicted the following returns for stocks X and Y in three possible states of nature. What are the expected returns? State X Y Probability 0.3 Boom 0.15 0.25 Normal 0.5 0.10 0.20 Recession 0.2 0.02 0.01

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