Question: Outcome : No Fire Outcome: One Fire Outcome: Two Fires Payout $60.00 $-319,340 $-639,340 Probability 99.8% .2000% 0% 1. What are the expected value, variance

Outcome : No Fire Outcome: One Fire Outcome: Two Fires
Payout $60.00 $-319,340 $-639,340
Probability 99.8% .2000% 0%

1. What are the expected value, variance and standard deviation of your profit?

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