There is an urn that has 2 marbles in totalJ 1|iII.the:re the marbles are either blue or red. So there are three contingencies: the urn may have 2 blue marbles, 2 red marbles, or 1 marble ofeach color. Alice isn't sure 1which contingency it is. She's given the choice of betting on the color of a marble or on a fair coin tom [which gives heads with probability 1,-"2 and tails with probability 1,32}. Here are three potential bets: I Bet H: She obtains 31m] if the coin toss comes up heads.. I] otherwise. I Bet R: She obtains $ll] if the marble picked from the urn is red, I] otherwise. I Bet 3: She obtains $100 if the marble picked from the urn is blue, otherwise. [a] Suppose that Alice is a subjective expected utility decisionnlaker. Suppose that she assigns probability p, to there being 5 blue marbles. What are Alice's expected payo's from betting B? {b} For the same belier as above what are her expected payoffs from betting R? {c} Alice tells you that she strictly prefers betting H to both betting H and betting B. Argue why this preference contradicts subjective expected utility . {d} Interpret her behavior through the lens of ambiguity-aversion