A stock will have a loss of 11.1 percent in a bad economy, a return of 10.9 perc...
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A stock will have a loss of 11.1 percent in a bad economy, a return of 10.9 percent in a normal economy, and a return of 24.8 percent in a hot economy. There is 33 percent probability of a bad economy, 36 percent probability of a normal economy, and 31 percent probability of a hot economy. The variance of the stock's returns is:
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