Question: Urgent could you please provide long answer to take point thanks!!! Mike wants to invest 4000 dollars on stock. The amount of money he will

Urgent could you please provide long answer to take point thanks!!!

Mike wants to invest 4000 dollars on stock. The amount of money he will earn depends on the market situation in future. If market goes up, he will earn 30000 dollars, if market stays in the same level, he will earn 10000 dollars, and if market goes down, he will earn nothing. In addition, he knows that the probability that market goes down is 0.6 while market goes up with probability of 0.15. a. Should he invest? (3 points) b. Calculate the expected value of perfect information for this problem. (4 points) Now, suppose that Mike can consult with MarArt at the cost of 100 dollars. MartArt predict market state in the future based on the historical data. They report either "down"," same", or "up" as the future state of the market. MarArt's assessment is summarized in the following table. MarArt assessment Market State "down" "same" "up" Goes down 0.5 0.3 0.2 Stays same 0.4 0.3 0.3 Goes up 0 0.4 0.6 c. What is the probability that MarArt will report "up"? (2 points) d. Calculate the expected value of imperfect information on the MarArt report? (6 points)

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