Go to the linked spreadsheet and click on the Std Deviation of Return Tag Me tab. You have 4 Possible State outcomes. You are given the probability and return in both state 1 and 2. State 3 and 4 probability and returns are provided below. In addition, you are given the expected return for Tag Me. Use this information to compute the Standard Deviation of the Expected Return for Tag Me.

• State 3 has a probability of 40% with a return of 15.00%
• State 4 has a probability of 20% with a return of 21.50%
• Assume the overall 4-state expected return is 11.50%

Respond in percentage form without the percent sign and round to the second decimal place. Thus, 26.789% would be written as 26.79

	states	Probability of	return in a
	Outcome	a given state	given state
	1	10%	-16.00%
	2	30%	8.30%
	3
	4