Probability Theory, Exercise, Solutions, Mathematics.
(3–3.5)² + (4–3.5)² + (5–3.5)² + (6–3.5)²] ≈ 2.917. 3. From a risk management perspective, if a player prefers stability in earnings, Mode B should be chosen as it has a lower variance, meaning lesser fluctuations in winnings. Conversely, if a player is willing to accept higher risks for