Question: this is the entire question. no information is missing 4) Next year, we will be in a boom, bust, or normal state with 25%, 25%

this is the entire question. no information is missing 4) Next year,this is the entire question. no information is missing

4) Next year, we will be in a boom, bust, or normal state with 25%, 25% and 50% probabilities respectively. Apple will return 15%, -22% and 7% in each state (again respectively). a. What is the expected return for Apple next year? b. What is the standard deviation of returns for Apple next year

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