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2. Create a portfolio composed of two independent bets of $5 each, both on 4 numbers. (a) Construct the probability distribution of the portfolio, beginning

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2. Create a portfolio composed of two independent bets of $5 each, both on 4 numbers. (a) Construct the probability distribution of the portfolio, beginning with the sample points. (b) Find the expected value, the variance, and the standard deviation of the portfolio bet. (c) By what multipliers do the results change from that of the $10 bet to that of the portfolio bet? Why is that of interest? (d) Conceptually, in terms of the probability distributions, why does the standard deviation of the portfolio change compared to that of the single $ 10 bet? 2. Create a portfolio composed of two independent bets of $5 each, both on 4 numbers. (a) Construct the probability distribution of the portfolio, beginning with the sample points. (b) Find the expected value, the variance, and the standard deviation of the portfolio bet. (c) By what multipliers do the results change from that of the $10 bet to that of the portfolio bet? Why is that of interest? (d) Conceptually, in terms of the probability distributions, why does the standard deviation of the portfolio change compared to that of the single $ 10 bet

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