Elias is a risk-averse investor. David is a less risk-averse investor than Elias. Therefore,

Group of answer choices

for the same risk, Elias requires a lower rate of return than David.

for the same return, Elias tolerates higher risk than David.

for the same return, David tolerates higher risk than Elias.

for the same risk, David requires a higher rate of return than Elias.

An investor has the utility function U=E[r]2A2 A portfolio has an expected rate of return of 13% and a standard deviation of 0.15. The risk-free rate is 6%. Which value of A (risk aversion) makes this investor indifferent between the risky portfolio and the risk-free asset? Round your answer to 2 decimal places