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Implication of coefficient of variation

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From the below solution, tell me what the coefficient of variation implies? And would you accept this project or not? Why?

The expected NPV is
E(NPV)= sigma Prob*NPV
= 0.05*(-70) + 0.20*(-25) + 0.50*12 + 0.20*20 + 0.05*30
= 3 (million)

The variance of NPV is
VAR = sigma Prob*[NPV -E(NPV)]^2
= 0.05*(-70-3)^2 + 0.20*(-25-3)^2 + 0.50*(12-3)^2 + 0.20*(20-3)^2 + 0.05*(30-3)^2
= 558

The standard deviation is:
SD = Square Root (VAR) = square root 558 = 23.62

Thus, the coefficient of variation = SD / E(NPV) = 23.62 / 3 = 7.87

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The implication of the coefficient of variation is determined.

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The coefficient of variation is the standardized measure of the risk per unit of return. It is calculated as the standard deviation divided by the expected return. In a situation where different stocks have different sigma (standard deviation) and mean, the one ...

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