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3. Assume the following utility function for investors. U = 2*r-(1/2)*r*G Where r is rate of return, G is standard deviation of returns and 2 is degree of risk-aversion coefficient. a) Assume further that Jakov's degree of risk-aversion coefficient is 20. Which one of the following portfolios would Jakov prefer? Portfolio return Standard deviation D 14 8 16 12 b) Assume instead Jakov desires an investment whose rate of return does not fall below 1% with probability of no more than 5%. Which portfolio would he prefer in this case assuming returns are normally distributed