1. Lets say that a parking spot costs $5, and the fine for not paying is $10. If you can expect to be caught not paying one-third of the time, what is the expected value? 2. Lets say that a parking spot costs $5, and the fine for not paying is $25. If you can expect to be caught not paying one-third of the time, what is the expected value? 3. Many companies offer free trials. How can they afford to do this? Companies know how much the free trials cost them. They also know the probability of someone paying afterward and the lifetime value of a customer. Say that a free trial costs the company $10 per person, and