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Lottery A pays x with certainty. Lottery B is ($10, p; $20, 1 - p) where 0 p 1. a. For what values of x and p will A first order stochastically
Lottery A pays x with certainty. Lottery B is ($10, p; $20, 1 – p) where0 < p < 1.a. For what values of x and p will A first order stochastically dominate B?b. What relationship must hold between x and p so that A second orderstochastically dominates B?