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A game of chance offers the following odds and payoffs. Each play of the game costs $250, so the net profit per play is the
A game of chance offers the following odds and payoffs. Each play of the game costs $250, so the net profit per play is the payoff less $250. Probability .30 .60 .10 Payoff $400 300 0 Net Profit $150 50 -250 a-1. What is the expected cash payoff? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Expected cash payoff $ 300 a-2. What is the expected rate of return? (Enter your answer as a percent rounded to the nearest whole number.) Expected rate of return % b-1. What is the variance of the expected returns? (In the calculation, use the percentage values, not the decimal values for the rates of return. Do not round intermediate calculations. Round your answer to the nearest whole number.) Variance 14500 b-2. What is the standard deviation of the expected returns ? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Standard deviation %
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