One method for deciding among various investments involves the concept of expected utility. Economists describe the importance
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a. The mean of Y, the expected yield.
b. The mean of √Y, the expected utility, using the utility function u(y) =√y. Interpret the utility function u.
c. The mean of Y3/2, the expected utility, using the utility function v(y) = y3/2. Interpret the utility function v.
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