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Wine Cellars, Inc. has the following probability distribution of holding period returns on its stock State of Economy Boom Normal Growth Recession Probability 20 45

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Wine Cellars, Inc. has the following probability distribution of holding period returns on its stock State of Economy Boom Normal Growth Recession Probability 20 45 35 HPR 24% 15% 8% Assuming that the expected return on Wine Cellar's stock is 14.35%, what is the standard ?deviation of these returns : a. 4.27% O b. 20.42% C. 12.83% d. 5.74%

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