QUESTION 15 Prospect pair 1 -- choose between: . W: (0.2, $4000) o X: (0.25, $3000) Prospect pair 2 -- choose between: o Y: (0.8, $4,000) . Z: ($3000) Part (a): What is the expected utility for Prospect pair 1 (X)? (Note. Please enter your answer rounded to the nearest whole dollar. For example, if your answer is $1,234.89, please input 1235 in your answer box.) (1 mark) Part (b): Based on the expected utility theory, which Options (W or X) would you choose for Prospect pair 1? (Note: If your answer is Option W, you only need to input W in your answer box.) (1 mark) Part (c): Ignoring the expected utility theory, would most people choose Options Y or Z from Prospect pair 2? (Note: You only need to input Y or Z in your answer box.) (1 mark) Part (d): Please explain your rationale for your answer in Part (c) in less than 50 words. (2 marks)