The questions are in the screenshots.

Consider a lottery with three possible outcomes: A prize of $125 with probability 1/5 A prize of $100 with probability 3/10 A prize of $50 with probability 1a What is the expected value of the lottery? Write out an expression for the variance of the outcomes here. What do you think you might pay to play this lottery? How would your attitude toward risk affect how much you'd be willing to pay to play? Can you intuit a relationship between that risk attitude and your willingness to pay