An experiment can result in any of the outcomes 1, 2, or 3. (a) If there are two different wagers,
with:
r1(1) = 4, r1(2) = 8, r1(3) = −10 r2(1) = 6, r2(2) = 12, r2(3) = −16
is an arbitrage possible?
(b) If there are three different wagers, with:
r1(1) = 6, r1(2) = −3, r1(3) = 0 r2(1) = −2, r2(2) = 0, r2(3) = 6 r3(1) = 10, r3(2) = 10, r3(3) = x what must x equal if there is no arbitrage?
For both parts, assume that you can simultaneously place wagers at any desired levels.

Hank itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. the following are required for production of a 70-gallon batch. 2,700 ounces of grape concentrate at $0.04 per ounce 77 pounds of granulated sugar at $0.43 per pound 133 lemons at $0.79 each 350 yeast tablets at $0.24 each 350 nutrient tablets at $0.14 each 2,500 ounces of water at $0.001 per ounce hank estimates that 4% of the grape concentrate is wasted, 9% of the sugar is lost, and 32% of the lemons cannot be used. compute the standard cost of the ingredients for one gallon of wine. (round intermediate calculations and final answer to 2 decimal places, e.g.