Before the UEFA Champions League starts, the football fan intends to place bets on tum teams winning the trophy: Paris Saint Germain and Chelsea. The table below shows the fan's regular betting house payouts for a 1 bet on each of these teams, and the football fan's estimated probabilities of each team winning. Winnin_ .a -out er 1 bet Probabili ofwinnin_ The football fan has a total wealth of 100 and they will bet all of their wealth on this championship. Negative bets are not allowed. The payout is the total amount of money given back to the customer by the betting house if they win the bet. c) Calculate the amount they should bet on each team to maximise their expected utility of wealth. (1) Calculate the expected utility from wealth resulting from the bets in part c). e) Compare the expected utility from the bets with the utility of the football fan's initial wealth. Explain why they are different. f) State whether the football fan would put their money on these two teams winning the UEFA Championship at the pay-outs offered. Explain your