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Space Software is considering an investment in new software that detects malware threats in the financial industry. Two possible types of expansion are under review. After investigating the possible outcomes, the company made the estimates shown in the following table. The pessimistic and optimistic outcomes occur with a probability of 20% and 25%, respectively, and the most likely outcome occurs with a probability of 55%.
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Project S
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Project D
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Annual returns
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Pessimistic
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12%
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8%
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Most likely
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18%
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20%
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Optimistic
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25%
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40%
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You are required to calculate the coefficient of variation for these two projects.