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PLEASE SOLVE USING EXCEL AND SHOW YOUR FORMULAS! WILL UPVOTE FOR DETAILED, CLEAR ANSWERS! 9. A game of chance offers the following odds and payoffs:

PLEASE SOLVE USING EXCEL AND SHOW YOUR FORMULAS! WILL UPVOTE FOR DETAILED, CLEAR ANSWERS!image text in transcribed

9. A game of chance offers the following odds and payoffs: Probability Payoff 0.2 $500 0.4 100 0.4 0 a) What is the expected cash payoff? b) Suppose each play of the game costs $100. What is the expected rate of return? c) What is the variance of the expected returns? d) What is the standard deviation of the expected returns

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