Please do the calculations in excel and provide the steps. Thank you!

For this question you have a renter who is considering purchasing tenant's insurance (renter's insurance). They live in a dangerous neighbourhood and have a considerable amount of expensive items they would like to insure. The following provides a distribution of possible losses they could incur: Part A Please compute the expected loss. Part B Please compute the reservation price for each of the following individuals. I.e., compute the maximum each individual would be willing to pay to fully insure against any possible loss. Each individual has isolastic utility, U(W)=1W271, but can have different values for . Warning: You will want to make these calculations in excel, MATLAB, or some other software. There can be many decimal places and any rounding can greatly affect your final answer. Part C Explain why individuals A and B have different reservation prices. Part D Explain why individuals C and D have different reservation prices. Part E In a few sentences explain why it is practical to avoid insuring large losses that occur with very high probabilities. Hint: it can be helpful to think about an extreme example. For this question you have a renter who is considering purchasing tenant's insurance (renter's insurance). They live in a dangerous neighbourhood and have a considerable amount of expensive items they would like to insure. The following provides a distribution of possible losses they could incur: Part A Please compute the expected loss. Part B Please compute the reservation price for each of the following individuals. I.e., compute the maximum each individual would be willing to pay to fully insure against any possible loss. Each individual has isolastic utility, U(W)=1W271, but can have different values for . Warning: You will want to make these calculations in excel, MATLAB, or some other software. There can be many decimal places and any rounding can greatly affect your final answer. Part C Explain why individuals A and B have different reservation prices. Part D Explain why individuals C and D have different reservation prices. Part E In a few sentences explain why it is practical to avoid insuring large losses that occur with very high probabilities. Hint: it can be helpful to think about an extreme example