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Whlle spending the weekend in New York City, Erle, Ginny, and their son, Kenj, are lucky enough to hail the Cash Cab for their taxi ride, During their ride, they win $100 for correct answers and receive only one strike for a wrong answer, so at the end of the ride they are eligitid for the video bonus question. Their vacation budget before entering the cab was $400, and based on their understanding of the type of bonus question they'll be asked, they believe they have a 70% chance of getting the question right. As explained in the article, if they answer the video bonus question correctly, they. will double their winnings, but if they miss the video bonus question, they will lose all of what they had previously won. Alternativaly, they can choose not to play for the bonus and walk away with their winnings from the cab ride. The following graph shows the cab riders' utility as a function of their total vacation budget. For simplicity, assume that all three possengers have the same preferences, and they only care about their joint budget since they are a family, Refer to the graph to answer the guestions that follow. Unuty (urts) If the family chooses not to do the video bonus question, they will receive a utility of To determine whether they should attempt the video bonus question, you first have to examine the payoffs the family will recelve, Eepending on whether they get the video bonus question correct or incorrect. Complefe the following table with the focal vacation budget they wiW have in each situation and the urioties carresponding to each outcame. Because the passengers believe they have a 70% chance of getting the question cocrect, their expected ututy from taking the gamble is utils. (Note: Enter all decimal places, and do not round your answer.) Because the expected utility from taking the gamble is than the utisty they receive if they do nor do the video bonus question, Eric. Ginny, and Kenji do the video bonus question. Suppose that the odds that passengers get the video bonus question right increase aith the number of people they have in the cab and decrease with the number of strikes they received during their trip. If only Eric and Ginny had been in the cab, and they had received twe strikes during the tripi they would have estimated their chance of getting the video bonus question right to be only 30%

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