Question: If a student attends every management science class, the probability of passing the course is 0.80; but if the student only attends randomly, then the
If a student attends every management science class, the probability of passing the course is 0.80; but if the student only attends randomly, then the probability of passing the course is 0.50. If a student fails, he or she can take a makeup where the probability of passing is 0.60 if the student has attended every class. This probability of passing the makeup drops to 0.10 if the student has attended at random.
Passing the course is worth 5 credits. Full time attendance "costs" 3 credits in terms of energy and time, whereas random attendance "costs" only 1 credit.
Assume that all failing students take the make up and that the payoff for failing is equal to 0.
What is the expected value of attending all classes?
Group of answer choices
A) 3.0
B) 4.6
C) 2.75
D) 1.6
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