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You've estimated the following expected returns for a stock, depending on the strength of the economy: State (s) Probability Expected return Recession 0.2 -0.04 Normal

You've estimated the following expected returns for a stock, depending on the strength of the economy: State (s) Probability Expected return Recession 0.2 -0.04 Normal 0.5 0.07 Expansion 0.3 0.12 Atte...

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