Question: Mark has $ 6 0 , 0 0 0 in income per year and faces a 3 5 % chance of having $ 1 5

Mark has $60,000 in income per year and faces a 35% chance of having $15,000 in medical bills. Suppose his utility function over income is U=I^1/2(square root of income)
-What is marks expected loss?
-What is marks expected utility (without insurance)? Please round to two decimal places.
-What is the most mark would be willing to pay for insurance? Please round to two decimal places.

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