(Answered)-Jamal has a utility function, where is his wealth in millions of - (2025 Updated Original AI-Free Solution

Question

Jamal has a utility function, where?is his wealth in millions of dollars and?is the utility he obtains from that wealth. In the final stage of a game show, the host offers Jamal a choice between (A) $4 million for sure, or (B) a gamble that pays $1 million with probability 0.6 and $9 million with probability 0.4.

Use the blue curve (circle points) to graph Jamal?s utility function at wealth levels of $0, $1 million, $4 million, $9 million, and $16 million.

how would i graph this?