2. For each problem, find the expected values that are requested by the problem. i. The offer is flood insurance. It costs $200. The probability of a flood is 0.01. If uninsured, a flood results in $20000 of damages. If insured and a flood happens, you still lose a deductible of $500, as well as having paid the original cost of $200, but there are no other damages. Find the expected value of purchasing the insurance, and the expected value of not purchasing it. ii. The offer is a lottery ticket. It costs $4. It has a 1 in 10000 chance of paying $25, and a 1 in 1,000,000 chance of paying $1,000,000. Find the expected value of paying for the ticket. iii. The offer is 20 lottery tickets with the same (independent) odds of winning as the previous problem, all for the low price of a single $4 ticket. Find the expected value of purchasing these tickets.