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23. There is a contractor whose best jobs earn $100,000 and whose worst jobs lose $50,000. The contractor has a personal utility function like this:
23. There is a contractor whose best jobs earn $100,000 and whose worst jobs lose $50,000. The contractor has a personal utility function like this: Value $100k $75k $25k SO -$25k SSOK Utility 1.0 0.80 0.70 0.65 0.45 0.0 Job 1 $75,000 P(0.8) or -$25,000 P(0.2) Job 2 $30,000 P(0.5) or $10,000 P(0.5) According to the utility function decision analysis, which job should he choose? Show your calculation and explain your answer. 23. There is a contractor whose best jobs earn $100,000 and whose worst jobs lose $50,000. The contractor has a personal utility function like this: Value $100k $75k $25k SO -$25k SSOK Utility 1.0 0.80 0.70 0.65 0.45 0.0 Job 1 $75,000 P(0.8) or -$25,000 P(0.2) Job 2 $30,000 P(0.5) or $10,000 P(0.5) According to the utility function decision analysis, which job should he choose? Show your calculation and explain your
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