3.3 Expected Utility I Elon is a graduating student at UPenn and has a utility function u(r) = Vr based on his monthly income x thousand in dollars. He is weighing over two career paths, opening a new business and entering the government. Opening a new business is risky, having 1.5 percent of success and 98.5 percent of failure. If the business becomes successful he expects to earn 2.56 billion dollar per year or earn nothing. If he works in the government, he would gain 25,000$ per year. Compute expected utility for each of two options. Also, explain which career path he would take