Consider a Lottery with Four Equally Likely Outcomes, A, B

question 19

Multiple Choice

Consider a lottery with four equally likely outcomes, A, B, C, and D. The associated payoffs are: $10, $30, $70, and $150, respectively. The variance of this lottery is what?

• A)2,875
• B)5,750
• C)8,625
• D)11,500

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Definitions:

King Philip's War

A conflict between American Indian inhabitants of New England and English colonists and their Indian allies from 1675–1678, marking one of the bloodiest wars per capita in U.S. history.

Native American Population

Refers to the group of people indigenous to the Americas before European colonization.

Dominion of New England

An administrative union of English colonies in North America (1686–1689), including New England and later New York and New Jersey, created by King James II to tighten control over colonial affairs.

Bacon's Rebellion

A 1676 uprising in the Virginia Colony, led by Nathaniel Bacon, which was fueled by discontent among frontiersmen with colonial policies toward Native Americans and governance.