SCENARIO 20-6 a Student Wanted to Find Out the Optimal Strategy to Strategy

question 90

Short Answer

SCENARIO 20-6
A student wanted to find out the optimal strategy to study for a Business Statistics exam with scores out of 100 possible points.He constructed the following payoff table based on the mean amount of time he needed to study every week for the course and the degree of difficulty of the exam.From the information that he gathered from students who had taken the course,he concluded that there was a 40% probability that the exam would be easy.

-Referring to Scenario 20-6,what is the coefficient of variation of spending 8 hours per week on average studying for the exam?

---

Definitions:

Higher Education

Education provided by universities and other institutions that award academic degrees, such as colleges and vocational schools.

Grade Inflation

The tendency over time for academic grades to become progressively higher, often without a corresponding increase in learning or achievement.

Assortative Mating

Occurs when marriage partners are selected so that spouses are similar on various criteria of social rank.

Educational Process

A systematic, structured period of learning and training to impart knowledge, skills, and cognitive development.