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Answer to Question #45606 in Statistics and Probability for Stilla

Question #45606
1. (a) A player tosses 3 fair coins. He wins Rs.500 if 3 heads appear, Rs.300 if 2 heads appear, Rs.100 if 1 head occurs. On the other hand, he loses Rs.1500 if 3 tails occur. Find the expected gain of the player and variance.
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