**Compute the expected payoff, variance, and the standard deviation for each of the following probability distributions:**

**Instructions:** Round your answers to 2 decimal places.

**a.** A payoff of 200 with a probability of 0.4 and 500 with a probability of 0.6.

Expected payoff = .

Variance = .

Standard deviation = .

**b.** A payoff is 110 with a probability of 0.2; 130 with a probability of 0.3; 150 with a probability of 0.1; and 170 with a probability of 0.4.

Expected payoff = .

Variance = .

Standard deviation = .

**c.** Every possible payoff that’s a whole number between (and including) 100 and 200, each with the same probability.

Expected payoff = .

Variance = .

Standard deviation = .