Question
Answer all questions with explanation There is a wager where with a probability of 25% the better looses all of their money, with a probability
Answer all questions with explanation
There is a wager where with a probability of 25% the better looses all of their money, with a probability of 70%, you would your wager back, and with a probability of 5%, you get your money back plus tripling what you originally bet. Person A and Person B bet all their money on this bet, but B started with 100 dollars while A started with 200 dollars.
A What is the expected amount of money Person B will have after this bet?
B. What is the variance of the amount of money Person B have after this bet?
C. What is the standard deviation of the amount of money Person A will have after this bet?
Please put yoiur answers in table or excel format where possible.
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