You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the accompanying table.

Project	Boom (50%)	Recession (50%)
A	$ 20	$ 10
B	$ 10	$ 20
C	$ 30	$ 30
D	$ 50	$ 50

The variance in the returns of project C is

Multiple Choice

• 0.
• 1,600.
• 900.
• 225.