What is the expected cash payoff

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Reference no: EM133074002

A game of chance offers the following odds and payoffs

Probability

Payoff

0.3

$400

0.35

$200

0.35

$100

a. What is the expected cash payoff?

b. Suppose each play of the game costs $100. What is the expected rate of return?

c. What is the variance of the expected returns?

d. What is the standard deviation of the expected returns?

Reference no: EM133074002

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