Calibri (Body) v 11 AA CR General Format as Table v Ex Delete v 121 1141 Paste BIUVV Av $ ~ % " Sort & Find & iz Cell Styles v Format v Filter Select X V fx P a Back Problem 6 Workspace Certain Based on the datapoints shown decide: which investment should be Utility Payof selected based on the highest utility criterion? -500 0.00 -300 0.25 150 0.30 .100 0.36 0 0.50 60 0.60 100 0.65 Investment Decisions and Payoffs (EMV) 200 ).70 Investment Large Gain Small Gain No Change Small Fall in Large Fall Vehicle in Market in Market in Market Market in Market 220 0.75 Value Value Value Value Value Gold -100 100 200 300 0 250 0.85 Bond 250 20 150 10 -150 300 0.90 Stock 500 250 100 -300 -500 500 1.00 C/D 60 60 50 60 60 Probability 0.3 0.1 0.3 0.2 a) Which investment should be chosen based on the EMV approach? b) What is that EMV? c) Which investment should be chosen based on the Utility approach? d) What is the Utility value of that investment