vballer9739 vballer9739

21-10-2022
Mathematics

Answered

1. consider a lottery with three possible outcomes: $125 will be received with probability 0.25, $100 will be received with probability 0.3 and $50 will be received with probability 0.45. a. what is the expected value of the lottery? b. what is the variance of the outcome? c. what would a risk-neutral person pay (at most) to play the lottery?

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