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Please assist in answering all questions below INFORMATION Consider a lottery with three...

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Accounting

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Please assist in answering all questions below

INFORMATION Consider a lottery with three possible outcomes: R125 000 will be received with a probability 0.2,R100000 with a probability of 0.3 , and R50000 with a probability 0.5 . REQUIRED: 2.1.1. What is the expected value of the lottery? (2 marks) 2.1.2. What is the variance of the outcomes of the lottery? (4 marks) 2.1.3. What would a risk-reutral person pay to play the lottery? (2 marks)

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