Relative state of the investments regarding dependence on each other may be one of the following:

1. Mutually exclusive projects: the type of projects in which selecting one project prevents other projects from being undertaken.
2. Independent projects: the type of projects in which projects are not in direct competition with one another.
3. Contingent projects: the type of projects in which approval or rejection of a project is contingent on approval or rejection of another project.

The correct answer is E.