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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