Are Some Values Incomparable? If So, How Should We Choose

question 4

Short Answer

Are some values incomparable? If so, how should we choose between them?

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Definitions:

Defined Contribution Plan

A type of retirement savings plan where the amount contributed to the plan is defined, but the future benefit amounts are not guaranteed.

Risk-free Return

The return on an investment with no risk of financial loss, typically associated with government bonds.

Standard Deviation

A statistical measurement that reflects the amount of variance or dispersion of a set of values. A low standard deviation means that the values tend to be close to the mean, while a high standard deviation means that the values are spread out over a wider range.

Defined Contribution Plan

A retirement savings plan where an employer or employee contributes a fixed amount or percentage of the employee's salary into their account, and the retirement benefit depends on the account's investment performance.