Sheridan made a friendly wager with a colleague that involves the result from flipping a coin. If heads comes up, Sherid

[answerhappygod]

Sheridan Made A Friendly Wager With A Colleague That Involves The Result From Flipping A Coin If Heads Comes Up Sherid 1 (36.36 KiB) Viewed 41 times

Sheridan made a friendly wager with a colleague that involves the result from flipping a coin. If heads comes up, Sheridan must pay her colleague $16; otherwise, her colleague will pay Sheridan $16. What is Sheridan's expected cash flow, and what is the variance of that cash flow if the coin has an equal probability of coming up heads or tails? (Round answers to 2 decimal places, es. 52.75.) Expected cash flow $ Cash flow variance Suppose Sheridan's colleague is willing to handicap the bet by paying her $21 if the coin toss results in tails. If everything else remains the same, what are Sheridan's expected cash flow and the variance of that cash flow? Expected cash flow $ Cash flow variance