Standard deviation versus coefficlent of variation as measures of risk Greengage, Inc., a successful nursery, is considering several expansion projects. All the alternatives promise to produce an acceptable return. Data on four possible projects appear in the following table: a. Which project is least risky, based on the range of possible outcomes? b. Which project has the lowest standard deviation? Explain why standard deviation may not be an entirely appropriate measure of risk for purposes of this comparison. c. Calculate the coefficient of variation for each project. Which project do you think Greengage's owners should choose? a. a. Which project is least risky, based on the range of possible outcomes? (Select the best answer below.) A. Project C B. Project D C. Project A D. Project B \begin{tabular}{cccc} \hline Project & Expected return & Range & Standard deviation \\ \hline A & 12.4% & 5.2% & 3.8% \\ B & 13.1% & 4.4% & 2.7% \\ C & 12.8% & 4.6% & 3.1% \\ D & 13.1% & 6.2% & 2.9% \\ \hline \end{tabular}