An investor is trying to estimate his expected return on an investment in the next 12 months. He believes the economy will be one of three states: Bad, Average, or Great. He has estimated the probability of each state and the return he will get in each environment. OUTCOME: Probability Return BAD 0.34 -17.00% AVERAGE 0.48 5.00% GREAT 0.18 35.00% Find the expected return based on his assumptions.