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Solve clearly Tom and Jerry are contestants on Jeopardy. Tom is leading with an accumulation of $12000, while Jerry trails closely at $10000. In the

Solve clearly

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Tom and Jerry are contestants on Jeopardy. Tom is leading with an accumulation of $12000, while Jerry trails closely at $10000. In the final segment of the show, contestants must wager an amount not exceeding their current accumulation that they will answer the last question of the night correctly. Wagers are made before the question is revealed. If the contestant answers correctly. they have their wager added to their accumulation. Otherwise. it is deducted. Jerry is a game show master and expects to answer correctly with 90% certainty. Tom is less experienced and only has a 55% chance. 3 1 Their utilities of wealth are given by uT(:J:) = 3'4 and uJ[a:) = 50:1:7i a) How much should Tom wager to maximise his expected utility? b] How much should Jerry wager to maximise his expected utility? c) In expectation, how much money the expected winner of the show is going to win

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