What is the maximum level of risk aversion for which the


Consider a portfolio that offers an expected rate of return of 10% and a standard deviation of 22%. T-bills offer a risk-free 4% rate of return.

What is the maximum level of risk aversion for which the risky portfolio is still preferred to bills? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Maximum level of risk aversion must be less than or greater than. Please indicate which one it is.

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Financial Management: What is the maximum level of risk aversion for which the
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