Question: Compute the expected return for a security with the following projected returns. State of the Economy Probability (%) Projected Return (%) Recession 9 -11.95 Moderate

Compute the expected return for a security with the following projected returns.

State of the Economy Probability (%) Projected Return (%)

Recession 9 -11.95

Moderate 20 5.47

Average 49 11.71

Good 16 18.52

Outstanding 6 20.24

The expected return is ___%. (Round to two decimal places.)

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