vanance Osl EV ( 4. Ahmed is a concert events planner, is considering whether to schedule an outdoor concert on Dec 31st. Booking the concert is a gamble: He stands to make a profit if the weather is good, but he'll lose a substantial amount if it rains. Probability that it will rain is 60%, and if he plans the concert his loss is 40 vs 40% no rain and he can then win 120. His utility if he gains is 150 and if he loses is 70. a. What is the Expected value and the Variance of his business? 2 b. What is the Expected Utility