A Lottery Game Pays $500 with

question 2

Multiple Choice

A lottery game pays $500 with .001 probability and $0 otherwise.The variance of the payout is

• A) 15.8.
• B) 249.50.
• C) 249.75.
• D) 499.

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Definitions:

Globalization

The process of interaction and integration among people, companies, and governments worldwide, driven by international trade and investment.

Corporate Social Responsibility

The concept that companies should be accountable for their impact on society and the environment and act in ways that are beneficial beyond their financial interests.

Individualism

A social theory favoring freedom of action for individuals over collective or state control, emphasizing the importance of individual autonomy and self-reliance.

Collectivism

A cultural value or social outlook that emphasizes the importance of groups and collective action over individual achievement or identity.