Studies have concluded that a college degree is a very good investment. Suppose that a college graduate earns about 79% more money per hour than a high-school graduate. If the lifetime earnings of a high-school graduateaverage $1,070,000, what is the expected value of eamings of a college graduate?The expected value of earnings of a college graduate is $. (Round to the nearest whole dollar.)

Earning of high school graduate = 1070000 $ Earnings of college graduate = 79 % more than earning of…

Studies have concluded that a college degree is a very good investment. Suppose that a college graduate earns about 79% more money per hour than a high-school graduate. If the lifetime eamings of a high-school graduate average $1,070,000, what is the expected value of eamings of a college graduate? The expected value of earnings of a college graduate is $ (Round to the nearest whole dollar.)

Studies have concluded that a college degree is a very good investment. Suppose that a college graduate earns about 79% more money per hour than a high-school graduate. If the lifetime eamings of a high-school graduate average $1,070,000, what is the expected value of eamings of a college graduate? The expected value of earnings of a college graduate is $ (Round to the nearest whole dollar.)

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 4MC

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