2. Ms. Fogg is planning an around-the-world trip on which she plans to spend $10000. The utility from the trip is a function of how much she actually spends on it, denoted by Y, given by u(Y)=hY. a) Ifthere is a 25 percent probability that Ms. Fogg will lose $1000 of her $10000 on the trip, what is her expected utility from the trip? b) Suppose that Ms. Fogg can buy insurance against losing the $1000 at an \"actuarially fair\" premium of $250. Show that her expected utility is higher if she purchases this insurance than if she faces the chance of losing the $1000 without insurance. ) What is the maximum amount that Ms. Fogg would be willing to pay to insure her $1000