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Questions 1 4 refer to prospects X and Y below, as well as the following information X = ($0, 0.50; $50, 0.4-0; $100, 0.10) Y

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Questions 1 4 refer to prospects X and Y below, as well as the following information X = ($0, 0.50; $50, 0.4-0; $100, 0.10) Y = ($0, 0.5; $30, 0.20; $80, 0.30) Mark has utility of wealth given by u(x) = x"-4 1. What is the expected value of prospect X (E V(X ))? 2. What is the standard deviation of prospect X (SD (X))? (Round your answer to the nearest cent, and don't worry, I'll include a healthy margin of error so you won't get this wrong due to rounding). 3. What is the value of the expected utility of Y for Mark (EU(Y))? 4. How much is Mark willing to spend to acquire Y (so, what is the value of CE(Y))? (Hint, if u(x) = x\

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