The common stock of Manchester & Moore is expected to earn 14 percent in a recession, 7 percent in a normal economy, and lose 4 percent in a booming economy. The probability of a boom is 15 percent while the probability of a recession is 5 percent. What is the expected rate of return on this stock?

a. What is the expected rate of return on this stock?

b. What is the variance of the returns on this stock?

c. What is the standard deviation of the returns on this stock