Consider a game in which a coin will be flipped three times. For each heads you will be paid $100. Assume that the coin comes up heads with probability 2/3. a. Construct a table of the possibilities and probabilities in this game. Possibilities Probability Outcome 1 heads, 3 tails 2 1 heads, 2 tails 3 2 heads, 1 tails 4 3 heads, 9 tails Instructions: Enter your responses rounded to the nearest whole dollar. b. Compute the expected value of the game. The expected value of the game is $ c. How much would you be willing to pay to play this game? A person who is risk averse will want to pay less than $ (m): a person who is risk-neutral will be willing to pay $0. d. Consider the effect of a change in the game so that if tails comes up two times in a row, you get nothing. How would your answers to the first three parts of this question change? Possibilities Probability Outcome Payoff 3 tails, heads1115 tails, heads, tails tails, tails, heads S heads, tails, tails $ 2 heads, 1 tails 5 LITRI 3 heads, tails SE3 1 2 3 4 5 6 Expected value = $ A person who is risk-averse will want to pay less than $ 1:a person who is risk-neutral will be willing to pay $