Question: Problem 13-6 Calculating Expected Return [LO1] Consider the following information: State of Probability of Economy State of Economy Recession .22 Normal 47 Boom Portfolio Return

Problem 13-6 Calculating Expected Return [LO1] Consider the following information: State

Problem 13-6 Calculating Expected Return [LO1] Consider the following information: State of Probability of Economy State of Economy Recession .22 Normal 47 Boom Portfolio Return If State Occurs .16 .12 38 .31 Calculate the expected return. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Expected return %

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