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1): Assuming that you are RISK AVERSE, For each of the following 2 alternatives choose one of the 2 options by circling either a) or b). For each choice calculate the expected value (EV) and briefly explain the logic of your choice. 1. a) $50,000 OR b) a single coin flip with a i ) 50% chance of $90,000 (Heads) ii) 50% chance of $15,000 (Tails) EV = $ Briefly explain your choice: NOTE: use the binomial distribution to assess the probabilities associated with the second option below. (Stat Trek (see link) is an appropriate website) https://stattrek.com/online-calculator/binomial.aspx 2. a) $50,000 OR b) 100 coin flips each of which has a i) 50% chance of $700 (Heads) ii) 50% chance of $400 EV = $ Briefly explain your choice