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josh likes snowboarding....probability question Josh likes snowboarding, and has been given an all expenses paid spring break vacation. He can choose between spending a week

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josh likes snowboarding....probability question

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Josh likes snowboarding, and has been given an all expenses paid spring break vacation. He can choose between spending a week in West Virginia or Vermont. At the time of he chooses his vacation, the weather in Vermont is uncertain: either there will be light snow, resulting in a depth of 4 feet, or there will be heavy snow, providing 9 feet. When there is 3 feet of snow, the utility he derives from snowboarding is v(s) = v3 (i) If the probability of heavy snow in Vermont is 1, what is the expected value of the snow level h 7 2 t ere. (ii) What is Josh's expected utility from snowboarding if he chooses to book his vacation in Vermont? (iii) Suppose that the snow level that will prevail in West Virginia during spring break is, sWV, is known for sure at the time when he needs to book his vacation. If sWV is equal to the expected value of the snow level in Vermont, where will Josh choose to go for spring break

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