A student has the following grades on his first quarter: Calculate the GPA, vari

Question

A student has the following grades on his first quarter: Calculate the GPA, variance, and standard deviation? You and your friend are watching a Baseball game, the teams are X and Y, assume you agreed to give your friend $ 44 if his/her team "Y" wins, alsohe/she agreed to give you $ 44 if your team " X" wins, probability of team X wins = probability of team Y wins = 0.5, and your initial wealth is W=$ 100. Answer the following: 1. If, what is your utility if team X wins, if team Y wins, and what is the expected utility of wealth EU(W)? 2. What is the expected wealth E(W). and what is the utility if expected wealth U(E(W))? 3. Compare EU(W) with U(E(W))? 4. Draw a diagram, and show the utility, expected utility, wealth, and expected wealth? 5. Repeat the steps 1 to 4 if and if?

Explanation / Answer

I will only answer the first question here.Please ask the second question seperately.

The grade points are obtained by multiplying units and grades. To find the GPA divide the sum of gradepoints by the sum of units.

GPA = 3.09

The variance component is derived by multiplying units to square of the difference between grades and GPA. To find the variance divide the sum of variance component with the sum units.

Variance = 0.3259

To find the standard deviation take the square root of the variance.

Standard Deviation = 0.5709

Class Units Grade Grade Points Variance Component Econ 002 5 3.3 16.5 0.2205 Econ 103 4 3 12 0.0324 Econ 104 4 4 16 3.3124 Econ 105 3 2.7 8.1 0.4563 Econ 006 4 2.3 9.2 2.4964 Total 20 61.8 6.518 Average 3.09 0.3259

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