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PROBLEM 1 [15 pts] 1.1. Jenna and Greg plan to go on a hiking trip. On September 24th, they open their Google Calendars, and look
PROBLEM 1 [15 pts] 1.1. Jenna and Greg plan to go on a hiking trip. On September 24th, they open their Google Calendars, and look through their work schedules. It seems like there are only two options: X1 = go on October 24" (i.e., in one month) and stay for 2 days X2 = go on November 24" (i.e., in two months) and stay for 5 days (use month as unit time) a) Jenna is a discounted utility maximizer with 8 = 0.7. V(n days hiking trip) = logo(n) Given this information, which option would Jenna choose? Show your math. [2.5 pts]
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