Problem 5 (Calcultion must be done 4 decimal places) A bettor has a choice between the following three lotteries: (For simplicity it is assumed that cost of lottery is negligible, equivalent to zero) Lottery # A 28% chances to WIN $11000 59% chances to WIN $3500 13% chances to WIN $2300 Lottery # B . 68% chances to WIN $12000 32% chances to LOSE $3225 Lottery # C 28% chances to WIN $7000 41% chances to WIN $13000 ~ 15% chances to WIN nothing 16% chances to LOSE $2200 If the bettor has $3250, having utility function U(x) = 1.76(In(x)), where x is total wealth which a. lottery he should choose among A, B or C? b. If the bettor has $10,500, having utility function U(x) = 2.71 1.12e/**\"*, where x i total ~ wealth which lottery he should choose among A, B or C? c. If bettor is not risk neutral and having utility function U(x) = 2.71 e/**\"* what will be your recommendation, Lottery A, B, or C. Calculate Risk premium for lottery A, B, and C independently? Which lottery will give low certainty value to bettor? If bettor is risk neutral, what will be your recommendation, lottery A, B or C? Why