Say an individual is faced with the decision of whether to buy auto insurance or not (like before laws in many states changed). The states of nature are that no accident occurs (with probability .992) or an accident occurs (with probability .008). Here is the payoff table for the decision maker Decision Purchase insurance Do not purchase Ins. State of Nature No Accident Accident -500 0 -500 -10000 a-what is the expected monetary value of each decision and which is the best for the decision maker? b-say the individual is a risk avoider. Create a table with plausible values of utility for the risk avoider, calculate the expected utility of each decision and state which decision is best based on the expected utility idea.