Question: In Problem 3-35, you helped the medical professionals analyze their decision using expected monetary value as the decision criterion. This group has also assessed their

In Problem 3-35, you helped the medical professionals analyze their decision using expected monetary value as the decision criterion. This group has also assessed their utility for money: U (– $45,000) = 0, U (– $40,000) = 0.1, U (– $5,000) = 0.7, U ($0) = 0.9, U ($95,000) = 0.99 and U ($100,000) = 1. Use expected utility as the decision criterion, and determine the best decision for the medical professionals. Are the medical professionals risk seekers or risk avoiders?

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