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3. Two instructors announced that they "grade on the curve," that is, give a fixed percentage of each of the various letter grades to each of their classes. Their curves are as follows: Grade A Instructor A 8% Instructor B 10% B 12% 15% C 50% 50% D 20% 15% F 10% 10% a. What is the expected value of grade (using A-4, B=3, etc.) for each instructor? b. If a random student came to you and said that his object was to enroll in the class in which he could expect the higher grade point average, which instructor would you recommend?

3. Two instructors announced that they "grade on the curve," that is, give a fixed percentage of each of the various letter grades to each of their classes. Their curves are as follows: Grade A Instructor A 8% Instructor B 10% B 12% 15% C 50% 50% D 20% 15% F 10% 10% a. What is the expected value of grade (using A-4, B=3, etc.) for each instructor? b. If a random student came to you and said that his object was to enroll in the class in which he could expect the higher grade point average, which instructor would you recommend?

Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter17: Making Decisions With Uncertainty
Section: Chapter Questions
Problem 8MC
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Engineering Econ HW8 Q3

3. Two instructors announced that they "grade on the curve," that is, give a fixed percentage of each of the various letter grades to each of their classes. Their curves are as follows: Grade A Instructor A 8% Instructor B 10% B 12% 15% C 50% 50% D 20% 15% F 10% 10% a. What is the expected value of grade (using A-4, B=3, etc.) for each instructor? b. If a random student came to you and said that his object was to enroll in the class in which he could expect the higher grade point average, which instructor would you recommend?
Transcribed Image Text:3. Two instructors announced that they "grade on the curve," that is, give a fixed percentage of each of the various letter grades to each of their classes. Their curves are as follows: Grade A Instructor A 8% Instructor B 10% B 12% 15% C 50% 50% D 20% 15% F 10% 10% a. What is the expected value of grade (using A-4, B=3, etc.) for each instructor? b. If a random student came to you and said that his object was to enroll in the class in which he could expect the higher grade point average, which instructor would you recommend?
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