Coefficient of variation Metal Manufacturing has isolated four alternatives for meeting its need for increased production capacity. The following table summarizes data gathered

relative to each of these alternatives, $.$

a$.$ Calculate the coefficient of variation for each alternative.

b$.$ If the firm wishes to minimize risk, which alternative do you recommend? Why?

a$.$ The coefficient of variation for alternative $A$ is

The coefficient of variation for alternative $B$ is

$($Round to three decimal places.$)$

The coefficient of variation for alternative $C$ is

$($Round to three decimal places.$)$

The coefficient of variation for alternative $D$ is

$($Round to three decimal places.$)$

Data table

$($Click on the icon here $$ in order to copy the contents of the data table below

into a spreadsheet.$)$

b$.$ If the firm wishes to minimize risk, which alternative do you recommend? Why? $($SE

To minimize risk, the firm needs to choose alternative

because it has the

lowest coefficient of variation.

lowest standard deviation.

highest coefficient of variation.