Table:
| Year Ended December 31 |  |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Assumed volatility | 64% - 69% | 75% - 81% |
|  | (67% weighted average) | (78% weighted average) |
| Assumed risk free interest rate | 1.8% - 2.7% | 2.2% - 2.8% |
|  | (2.4% weighted average) | (2.5% weighted average) |
| Average expected life of options (in years) | 6.1 - 6.3 | 6.2 |
|  | (6.2 weighted average) | (6.2 weighted average) |
| Expected dividends | - | - |
Paragraphs:
As of December 31, 2019, exercisable options had an intrinsic value of less than $0.1 million. The intrinsic value of options exercised was $0.4 million in 2019 and $0.1 million in 2018. The following are the assumptions used in valuing the 2019 and 2018 stock option grants:
In January 2020, we issued options to employees for the purchase of up to 591,004 shares of common stock, at an exercise price of $1.23 per share which vest and become exercisable in four annual installments ending in January 2024. The options have a grant date fair value per share of $1.26.
Question:
What is the average assumed volatility in 2018?
Answer: (75 + 81)/2  = 78