QUESTION 15 [9 Marks] Norma is given a choice between a lottery ticket for lottery L and a fixed (riskless) amount of money, R150. The lottery, L , pays out R100 with a probability of 0.2 and R1 000 with a probability of 0.8 . Norma's Von-Neumann Morgenstern utility function for money is Ux =x / where x is the amount of money she receives. 15.1 What is the expected monetary value (EMV) of L? [1] 15.2 What choice will Norma make? Show calculations. [3]