Which of the Following Projects Would a Risk-Averse Investor Choose

Multiple Choice

Which of the following projects would a risk-averse investor choose?

A) an ENPV of $2 million and a standard deviation of $50,000.
B) an ENPV of $2 million and a standard deviation of $200,000.
C) an ENPV of $2 million and a standard deviation of $400,000.
D) an ENPV of $1 million and a standard deviation of $200,000.
E) an ENPV of $3 million and a standard deviation of $2,500,000.