SOLVE AND EXPLAIN IN DETAILS

23. (4 points) Carson Inc.'s manager believes that economic conditions during the next year will be strong, normal, or weak, and she thinks that the firm's returns will have the probability distribution shown below. What's the standard deviation of the estimated returns? (Illustrate the calculator/excel or calculation procedures) Economic Conditions Prob. Return Strong 30% 34.0% Normal 40% 10.0% Weak 30% -16.0%

Which of the following statements is CORRECT?

a.	A timeline is not meaningful unless all cash flows occur annually.
b.	Timelines are not useful for visualizing complex problems prior to doing actual calculations.
c.	Timelines can be constructed to deal with situations where some of the cash flows occur annually but others occur quarterly.
d.	Timelines can only be constructed for annuities where the payments occur at the end of the periods, i.e., for ordinary annuities.
e.	Timelines cannot be constructed where some of the payments constitute an annuity but others are unequal and thus are not part of the annuity.