a) Which project is least? risky, judging on the basis of range?

b) Which project has the lowest standard deviation ? Explain why standard deviation may not be an entirely appropriate measure of risk for purposes of this comparison.

c) Calculate the coefficient of variation for each project. Which project do you think? Greengage's owners should? choose?

Project                        Expected return               range               standard deviation

A                               11.9%                                 6.3%                       3.1%

B                                  13.2%                             5.2%                           3.9%

C                                   13.4%                              4.5%                          3.5%

D                                 12.9%                                6.2%                         2.6%