You are going to invest all of your funds in one of three projects with the following distribution of possible returns: Probability 50% Chance 50% Chance PROJECT 1 Standard Return Deviation 30% 9% -4% PROJECT 3 Standard Probability Return Deviation 10% Chance 28% 12% 70% Chance 18% 20% Chance -8% Beta 1.5 I Beta 2 Probability 30% Chance 40% Chance 30% Chance PROJECT 2 Standard Return Deviation 36% 9% 10.5% -20% If you are a risk averse investor, which one should you choose? Explain why. Beta 0.8