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7. Given the annual returns below, which investment is the most risky (using standard deviation as the risk measure)? Investment A 4% -3% 8% Investment

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7. Given the annual returns below, which investment is the most risky (using standard deviation as the risk measure)? Investment A 4% -3% 8% Investment B 8% 7% 13% Investment C 9% -10% 23% Investment D -6% -9% 11% Year 1 Year 2 Year 3 a. Investment A b. Investment B c. Investment C d. Investment D

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