Question: Bob's guitar shop is expected to generate an 18% return in a boom market, a 10% return in a normal market, and a minus 6%

Bob's guitar shop is expected to generate an 18% return in a boom market, a 10% return in a normal market, and a minus 6% (i.e -6%) return in a recession. There is a 35% probability of a boom market, a 45% probability of a normal market, and a 20% probability of a recession. What is the expected return and the standard deviation of Bob's guitar shop?

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