The conventional model of the demand for insurance assumes utility is a function of income. Based on this model, use the information provided to determine the answers to the following questions: maximum income if Andy Dwyer does not get sick = $90,000; Cost of Illness = $15,000; Probability of Illness = 25%, Utility with respect to income is: U = 2*Y1/2 -What is the expected value of Andy's income loss? -How much is Andy willing to pay to avoid risk in relation to an income associated with an illness? -What is the maximum amount Andy is willing to pay for insurance