MANAGERIAL FINANCE: Analysis and Practice 11. (2 minutes) Expected returns and standard deviations have been calculated for five projects. Rank them in terms of total risk, from highest risk to lowest risk. Project E R 5.9% 12.3% 8.4% 14.9% 16.2% std. deviation 1 .8% 2.5% 2.3% 2.9% 3.3%