Consider the following three cases:
Case 1 A company has four legal claims outstanding, each for $100,000. There is a 10% chance that one claim will be paid out, a 10% chance that two will be paid out, a 5% chance for three, and a 5% chance for four payouts.
Case 2 A company has four legal claims outstanding, each for $100,000. There is a 10% chance that one claim will be paid out, a 60% chance that two will be paid out, a 5% chance for three, and a 15% chance for four payouts.
Case 3 A company has four legal claims outstanding, each for $100,000. There is a 30% chance that one claim will be paid out, a 20% chance that two will be paid out, a 20% chance for three, and a 20% chance for four payouts.

Required:
For each case, decide if some payout is likely or not likely. Compare the most likely outcome with the expected value, and explain the amount that must be recorded.