Michael is still in high school, deciding on his future career path. Michael has two excellent talents, math and playing

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Michael is still in high school, deciding on his future careerpath. Michael has two excellent talents, math and playing baseball.If Michael goes to college he will major in math, and then get ajob as a math teacher. Because of the high demand for mathteachers, Michael can expect with full certainty that he will get ajob teaching math that pays $80,000 per year.. Alternatively,Michael could skip college and become a baseball player. As a majorleague baseball player, his salary would be $10 million per year.If instead he never gets above the minor league teams, he only willearn $30,000 per year. In baseball: pr(major league) = .03,pr(minor league) = .97 Whichever career he chooses, his utilityfunction is: U(income) = (income)1/2 Find the two separate expectedvalues of both the math career and the baseball career. Which isgreater? Find the two separate expected utilities of both the mathcareer and the baseball career. Which is greater? Find thecertainty equivalent of the baseball career. You may solve thecertainty equivalent either by math, by graph, or both.