Question: Sunland made a friendly wager with a colleague that involves the result from flipping a coin. If heads comes up, Sunland must pay her colleague

Sunland made a friendly wager with a colleague that involves the result from flipping a coin. If heads comes up, Sunland must pay her colleague $16; otherwise, her colleague will pay Sunland $16. What is Sunlands 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, e.g. 52.75.)

Expected cash flow

$enter a dollar amount rounded to 2 decimal places

Cash flow variance

enter the variance rounded to 2 decimal places

Suppose Sunlands colleague is willing to handicap the bet by paying her $22 if the coin toss results in tails. If everything else remains the same, what are Sunlands expected cash flow and the variance of that cash flow?

Expected cash flow

$enter a dollar amount rounded to 2 decimal places

Cash flow variance

enter the variance rounded to 2 decimal places

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