1. a. Given the information below on two prospective land uses and their associated probabilities and values, what is the estimated market value based on expected use analysis? What is the expected use?
2. b. Under the highest and best use premise, what is the estimated market value?

\begin{tabular}{ccccc} \hline & \begin{tabular}{c} Overall \\ Probability \\ Use \end{tabular} & \multicolumn{2}{c}{\begin{tabular}{c} Value Distribution \\ of Overall Probability \end{tabular}} \\ \hline & & $300,000 & $320,000 & $340,000 \\ \cline { 2 - 5 } 1 & 70 & 20% & 30% & 20% \\ 2 & 30 & - & 15 & 15 \\ \hline \end{tabular} \begin{tabular}{ccccc} \hline & \begin{tabular}{c} Overall \\ Probability \\ Use \end{tabular} & \multicolumn{2}{c}{\begin{tabular}{c} Value Distribution \\ of Overall Probability \end{tabular}} \\ \hline & & $300,000 & $320,000 & $340,000 \\ \cline { 2 - 5 } 1 & 70 & 20% & 30% & 20% \\ 2 & 30 & - & 15 & 15 \\ \hline \end{tabular}