The Dean of a College Wants to Determine Which of Two

question 42

Multiple Choice

The dean of a college wants to determine which of two new classes to offer for the upcoming semester. Due to facility constraints only one class can be offered at this time. The dean feels that the first class has an 80 percent chance of earning the college about $75,000, but a 20 percent chance of losing $35,000. If the class is successful, then its next level class will be offered, with a 75 percent chance of earning $60,000, but a 20 percent chance of losing $30,000. Weighing the options, the dean feels that the second class has a 60 percent chance of earning $85,000, but a 40 percent chance of losing $40,000. If the second class is successful, then its next level class will be offered with a 50 percent chance of earning $80,000, but a 50 percent chance of losing $45,000. If both classes are not successful, neither of their next level classes will be offered to the students.What is the expected value for selecting the first class?

• A)$90,000
• B)$83,000
• C)$75,500
• D)$50,000
• E)$45,500

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Definitions:

Archetypes

Universal, symbolic images that appear across cultures and literature, representing fundamental human motifs of our experience as we evolve.

The Shadow

A term in Jungian psychology that refers to an unconscious aspect of the personality which the conscious ego does not identify in itself, often embodying traits one dislikes or fears.

Collective Unconscious

A concept proposed by Carl Jung referring to the part of the unconscious mind that is derived from ancestral memory and experience, shared among all humans.

Controversial Aspect

A facet or element of a subject, issue, or topic that leads to disagreements, differing opinions, or debates.