Idaho Slopes (IS) and Dakota Steppes (DS) are both seasonal businesses. IS is a downhill skiing facility, while DS is a tour company that specializes in walking tours and camping. The equally likely returns on each company over the next year is expected to be

Economy

Strong Downturn

Mild Downturn

Slow Growth

Moderate Growth

Strong Growth

Idaho Slopes

-10%

4%

4%

12%

20%

The variances of IS and DS are:

Dakota Steppes

2%

7%

6%

4%

4%

Multiple Choice

.0145; 00038,

0008068, 000193

011584; 000304.

.006454; 000154.

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