Exhibit 6.16 USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM Based on the economic outlook for the industry, a financial analyst covering Top Choice Corporation has determined the following three possible returns given three different states of the economy over the next period.

Probability	Return
0.25	0.02
0.50	0.14
0.25	0.30

Refer to Exhibit 6.16. What is the standard deviation for Top Choice Corporation?

a. 7.9 percent

b. 0.1 percent

c. 9.4 percent

d. 6.3 percent

e. 12.1 percent