1. Please complete the tutorial available at http:/ /sambaker.com/econ/titled Risk. 2. You need to hire some new employees to staff your start-up venture. You know that potential employees are distributed throughout the population as follows, but you can't distinguish among them: Employee Value Probability $50,000 25 $60,000 .25 $70,000 .25 $80,000 25 What salary should you over to ensure you do not offer a salary above their value? (Hint: The start-up can't distinguish between the different employee segments. Also, the individual in the different employee segments know their own market value and will not accept a salary under their market value). 3. The coffee shop near the local college normally sells 10 ounces of roasted coffee beans for $10. But the shop sometimes puts the beans on sale. During some sales, it offer "33 percent more for free". Other weeks, it takes "33 percent off the normal price. After reviewing the shop's sales data, the shop's manager finds that "33 percent more for free" sells a lot more coffee than "33 percent off." Are the store's customers making a systematic error? Which is actually the better deal