Over the next 30 days, economists forecast that the pound may weaken relative to the dollar by as much as 7%, or it may strengthen by as much as 6%. The possible rates of change are -7%, -5%, -3%, -1%, 0%, 2%, 4%, and 6%. If these values are equally likely, what are the mean and standard deviation of the future spot exchange rate if the current rate is $1.5845/£?
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