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expected return portfolio

Based on the following information, the expected return is  percent. (Do not include the percent sign (%). Round your answer to 2 decimal places. (e.g., 32.16))

State of
Economy
Probability of State
of Economy
Portfolio Return if
State Occurs
 Recession0.2  –-0.06  
 Normal0.35  0.13  
 Boom0.45  0.25  

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