3. The book uses 4 synonyms for the average of the outcome if you played a game over and over. The four synonyms are? 1. Variance 2. Semivariance 3. Systematic distributions 4. Asystematic distribution B. Average, or mean is commonly used in risk management. What is "average" by definition and give an example of an average of the last 3 grades you earned (makeup three scores for this exercise, each out of possible 100 points). 4. What is the Value at Risk (VAR)? B. Who created this risk measurement and in what year? 5.What are the 3 different methods to compute the VaR? 6.In the field of Insurance, what is the equivalent of the VaR in the context of pure risk exposures?