Questions 1 — 4 refer to prospects X and Y below, as well as the following information X = ($0, 0

Questions 1 — 4 refer to prospects X and Y below, as well as the following information X = ($0, 0.50; $50,040; $100, 0.10) Y = ($00.5,- $30,0.20; $80, 0.30) Mark has utility of wealth given by u(x) = x0-4 1. What is the expected value of prospect X (E V(X ))? 2. What is the standard deviation of prospect X (SD (X))? (Round your answer to the nearest cent, and don't worry, I'll include a healthy margin of error so you won't get this wrong due to rounding). 3. What is the value of the expected utility of Y for Mark (EU(Y))? 4. How much is Mark willing to spend to acquire Y (so, what is the value of C E (Y))? (Hint, if u(x) = x", then u'1(x) = x25). 5. Prospect Z is given by Z = ($22, p; $40, 0.40,- $68, p). What is the value of p?