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Subramayam is an investor with high risk aversion. Which of the following risk and return combinations will he most likely prefer? expected return = 15%,

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Subramayam is an investor with high risk aversion. Which of the following risk and return combinations will he most likely prefer? expected return = 15%, historical standard deviation = 22% expected return = 18%, historical standard deviation = 23% expected return = 14%, historical standard deviation = 19% expected retum= 12%, historical standard deviation = 17% expected return= 16%, historical standard deviation = 21%

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