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Given the Possible Outcomes to a Lottery Being Only the Values

Question 45

Multiple Choice

Given the possible outcomes to a lottery being only the values 2, 6 with equal probabilities, calculate the expected value, variance and standard deviation?


A) EV = 4, variance = 16, standard deviation = 4
B) EV = 4, variance = 4, standard deviation = 2
C) EV = 4, variance = 4, standard deviation = 4
D) EV = 3.5, variance = 4, standard deviation = 2

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