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39. Suppose a family has saved enough for a 10 day vacation (the only one they will be able to take for 10 yea and
39. Suppose a family has saved enough for a 10 day vacation (the only one they will be able to take for 10 yea and has a utility function U - 112 (where I is the number of healthy vacation days they experience). Supp they are not a particularly healthy family and the probability that someone will have a vacation-ruining illness () = 0) is 30%. What is the expected value of V? a. 10 b. 7 C. 2 d. Continuing with the same family from the preceding question, what is the greatest (integer) number of 40. vacation days the family would be willing to give up in order to guarantee a healthy vacation? a. A w h. C
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