2. Calculated the expected payoffs for the pair of lotteries this table. Show the expected payoff below each choice. Table Lottery A Lottery B $200.00
2. Calculated the expected payoffs for the pair of lotteries this table. Show the expected payoff below each choice. Table Lottery A Lottery B $200.00 if throw of die is 1-9 $336.50 if throw of die is 1-9 $160.00 if throw of die is 10 $9.00 if throw of die is 10 $196 $303.75 a. Which lottery would be chosen by a risk-neutral person? Explain b. Which lottery would someone with "square root" utility for income choose? Note: Square root utility of income is just the square root for each of the possible monetary payoffs
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