Assume an investor's preferences can be described by a utility function which can be expressed in terms of wealth as(W) = 20W -.5W2. The investors considering3 investments with the following uncertain future outcomes and probabilities of occurrence.

i) 1/3 chance of 6, 1/3 chance of 7, and 1/3 chance of 8

ii)1/4chance of 4, 1/2chanceof 7, and 1/4chance of 10

iii)1/5chance of 1, 3/5chanceof 6and 1/5chance of 16

1. Is this a "well-behaved" utility function? Explain why or why not....