Question: Please answer the following question: 3. For attribute X the decision maker has been elicited and we have found that the risk tolerance parameter for

Please answer the following question:

3. For attribute X the decision maker has been elicited and we have found that the risk tolerance parameter for an exponential utility function is R = 1.5. The range of X is determined to be between a worst of .75 and a best of 2.8. Develop translate and scale this utility function so that U(.75) = 0 and U(2.8) = 1 (you might recognize this as one of the utility functions that we used in our example)

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