14. Other things being the same, which of the following is preferred by a risk averse investor?

a.

A variability of 11.9% over a variability of 10.0%

b.

A standard deviation of 7.6% over a standard deviation of 11.0%

c.

A return of 5.8% over a return of 10.0%

d.

A return of 14.4% over a return of 9.0%

e.

A reward-to-risk ratio of 0.36 over a reward-to-risk ratio of 0.60