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What is the expected value of the lottery what is the

Consider a lottery with three possible outcomes:

$125 will be received with probability .2

$100 will be received with probability .3

$50 will be received with probability .5

a)What is the expected value of the lottery?

b)What is the variance of the outcomes?

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Solution Preview :

Prepared by a verified Expert

Macroeconomics: What is the expected value of the lottery what is the

Reference No:- TGS0665621

Have a Question? (oR Write a Review)

Recent Questions Asked Macroeconomics

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Macroeconomics: What is the expected value of the lottery what is the

Reference No:- TGS0665621

Recent Questions Asked Macroeconomics

Q : A new tennis court complex is planned both alternatives

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