Consider the following information: State of Economy Probability of State of Economy Rate of Return If State O

[answerhappygod]

Consider the following information:









State of Economy
Probability of
State of Economy
Rate of Return If State Occurs


Recession

.15

−
.11



Normal

.51


.12



Boom

.34


.20













Calculate the expected return. (Do not round
intermediate calculations and enter your answer as a percent
rounded to 2 decimal places, e.g., 32.16.)