Make sure you calculate standard deviation when asked and not variance. Report all open response answers as numerical to four decimal places -- DO NOT give an open response answer as a percent. If an open response answer is greater than 1000, report it without commas.

Question 18 Not yet answered Marked out of 3.00 Flag question In the mean-variance framework, the utility function of an investor is given by U=E(r)(A/2)(2). We usually use a set of curves to represent the investor's utility level in a graph with E(r) as the y-axis (vertical axis) and as the x-axis (horizontal axis). If the investor is risk-averse, what is the value of the variable A in the above utility function? Choose between 'positive', 'negative', or 'nil