Calculating Expected Return. Based on the following information, calculate the expected return: State of the economy Probability of State of Economy...

Calculating Expected Return.  Based on the following information, calculate the expected return:

State of the economy              Probability of State of Economy             Portfolio Return if State Occurs

Recession                                       .10                                                                -.18

Normal                                            .60                                                                 .11

Boom                                              .30                                                                 .26