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The stock of Midget Kars is expected to produce the following returns given the various states of the economy. What is the expected return on

The stock of Midget Kars is expected to produce the following returns given the various states of the economy. What is the expected return on this stock?

Probability

State of of State of Rate of

Economy Economy Return

Recession .20 -.18

Normal .70 .09

Boom .10 .14

a. 4.1 percent

b. 4.9 percent

c. 7.2 percent

d. 10.7 percent

e. 11.3 percent

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