(Answered) Bay land inc has the following distribution of

Management Studies

Bay Land, Inc. has the following distribution of returns:

STATE	RETURN	PROBABILTIY
Boom	0.3	0.25
Normal	0.4	0.15
Bust	0.3	0.30

Assuming that these returns are normally distributed, what is the probability that Bay Land, Inc. will return less than 7.25%? Show all work, and clearly explain and state your answer

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