inter Comment + en tot reture porte microfono ET @@ 8 QUESTION #1 (5 Marks) You go to the racetrack and are choosing between 2 horses: Belle and Jeb. Someone comes and offers you gambler's anti-insurance (hint: should we take the insurance or not take the insurance?). If you agree to it They pay you $2 up front. - You agree to pay therh 50% of any winnings (that is $0.50 f Belle wins, and if leb wins). You can: -Beton Belle: It costs $1 to place a bet; you will be paid $2 if she wins for a net profit of 51). Bed on Jeb. It costs $1 to place a bet; you will be paid $11 if he wins for a net profit of $10), You believe that Belle has a probability 0.7 of winning and that leb has a probability of winning HECTION HIC Marbel