The last part ... what's the best option

Homework: Assignment 5 Sa uh.ed CH. Score: 0 of 1 pt 7 of 19 (18 complete) HW Score: 81.58%, 15.5 of 19 Cons exper Exercise 3 Question Help of the lotter 0.25 2.50 0.05 7.75 www. The expected value of Richard's payoff if he buys a lottery ticket is $ 1.21 . (Round your answer to the nearest penny.) Cha The variance of his payoff if he buys a lottery ticket is $ 3.30 . (Round your answer to the nearest penny.) d. In do yo In the long run, given the price of the lottery tickets and the probability/return table, what do you think the state would do about the lottery? Na or O A. Raise the price of a ticket. www. O B. Lower the probability of positive payoffs Sol O C. Go bankrupt if it does nothing. Each D. Both A and B are correct Richa O E. All of the above ticke