Suppose a decision maker has a utility function 
and is faced with a lottery where there is a 30% chance of earning $30 and a 70% chance of earning $80.What is the expected utility of this lottery?
Definitions:
Satisfactory Alternative
An option that fulfills the requirements or needs to an acceptable degree, though it may not be the best possible choice.
Ethics
A set of moral principles or values that govern an individual's or group's behavior, distinguishing between what is right and wrong.
Costly Litigation
Legal proceedings that involve substantial financial expenses due to attorney fees, court costs, and other related expenditures.
Optimizing Decision
Choosing the best possible alternative from available options with the aim of maximizing desired outcomes or minimizing negative impacts.
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