Please help me get the values below

Question 3: Risk Preferences and Insurance Miki, Jiting and Kelly are sunower farmers in the village of Girasol. They each have zero wealth, so their consumption is equal to the income they earn from their economic activity. Each of them must choose one (and only one) of the following three activities: c Mon time farming. Sunower farming is risky because of a combination of weather and pests. Under full time farming, the farmer works 7 days per week on their farm. There is a 60% probability of having a GOOD harvest and a 40% chance of having a BAD harvest. If the harvest is GOOD, the farmer earns an income of $200. If the harvest is BAD, the farmer earns an income of only $20. I Actiyjty 2: Full time construction work. This activity has no risk. An individual who decides to work ill time in construction earns $60 with certainty. o Agti'ty 3;, Part-time farming. In this third activity, the farmer works during the week as a sunower farmer and works in construction during the weekend. Since she is not able to work full time on the farm, the probability of having a GOOD harvest and earning $200 drops to 35%, and the probability of having a BAD harvest and earning only $20 increases to 65%. The individual also earns $30 with certainty as a construction worker (the DCrson earns this $30 from construction in addition to her farm income under both a GOOD and BAD harvest). a. What is the expected value of consumption for each activity? i. Activity 1: Full time farming ii Activity 2: Full time construction work iii. Activity 3: Part time farming b. Miki, Jiting and Kelly view risk differently. This is reected in the differences in their utility lnctions, which are listed below. Using those utility Jnctions, compute the certainty equivalent (CE), the risk premium (RP) and expected utility (EU) associated with each of the three activities for each individual. Report your answers in Table 1 below. 0 Miki: U (C) = 0.5C o Jiting: U(C) = sv . Kelly: U(C) = 0.050 2 Table 1. CEIRPIEU for 3 Activities