Question: please help with this problem 5 Consider a game in which a coin will be flipped three times. For each heads you will be paid

please help with this problem 5

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 1/3. a. Construct a table of the possibilities and probabilities in this game. Instructions: Enter your responses tounded to the nearest whole dollat. 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 5 ; a person who is risk-neutral will be willing to pay 5 d. Consider the effect of a change in the game so that if tails comes up two times in a fow, you get nothing. How would your answers to the first thee parts of this question change? Expected vatue 5 A person who is risk-ivense wif want to pay less than 5 a person who is riskneutal will be willing to pays

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