. Eunice is cramming for finals and has only six hours of study time left! Her g
ID: 1132038 • Letter: #
Question
. Eunice is cramming for finals and has only six hours of study time left! Her goal is to get as high an average grade as possible over three subjects: economics, mathematics, and statistics. She must decide how to allocate her remaining study time among the three subjects. Based on the best estimates she can make, her grade in each subject will depend on the time allocated studying it according to the following schedule: Economics Mathematics Statistics Hours Hours Grade 20 45 65 Hours Grade 40 Grade 80 67 74 78 81 80 95 97 98 83 92 Her two best friends, Larry and Moe, advise her as follows Larry: Study Stats with the remaining six hours, because you'll get the highest grade possible there over all of the three subjects Moe: Study Economics with the remaining six hours, because you'll see the largest increase in your score there over all of the three subjectsExplanation / Answer
a.) She should not follow any of the advice given by her friends, if she wants to score the highest then in that case
--- She will utilize the first 3 hours in studying economics which will help her to grab 77 marks,
---and the 2 hours can be used to study mathematics which will help her to grab 67 marks,
--and if she studies 1 hours for statistics she can easily score 90 marks.
So the total marks she can score is 234 which is the maximum from all the combinations.
b.) So if we consider the additional hours studying the same subject, then she will have the marginal benefit but at a diminishing rate and also if any other combination is used then the total marks will be reduced, the marginal benefits are decreasing in each case.
c.) Yes, she can think of studying the sixth hour on stats because that will give her 90 marks which is better than the marks of math.
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