Consider the following investment alternatives.

Investment X			Investment Y
Outcome	NPV	Probability	Outcome	NPV	Probability
1	5	0.75	A	0	0.75
2	10	0.25	B	15	0.25

A) What are the expected Net Present Values (NPV) for investment X and investment Y.

B) What is the Standard Deviation for investment Y.

C) Suppose an investor has the following Utility Function.

U=P^2

where U is utility and P is net present value, P^2 is P*P. Which investment would he/she choose? Show your work and explain your answer. Be sure to discuss the preference toward risk.