RahulKakkar2377 RahulKakkar2377

24-12-2019
Business

contestada

Studies have concluded that a college degree is a very good investment. Suppose that a college graduate earns about 7575% more money per hour than a high-school graduate. If the lifetime earnings of a high-school graduate average $1 comma 200 comma 0001,200,000, what is the expected value of earnings of a college graduate?

Respuesta :

DeniceSandidge DeniceSandidge

26-12-2019

Answer:

expected value of earnings = $2100000

Explanation:

given data

rate of excess earning = 75%

lifetime earnings average = $1,200,000

to find out

expected value of earnings

solution

we get here expected value of earnings that is express as

expected value of earnings = lifetime earnings + ( rate of excess earning × lifetime earnings ) .................1

put here value we get

expected value of earnings = $1,200,000 + ( 75% × $1,200,000 )

expected value of earnings = $1,200,000 + $900000

expected value of earnings = $2100000

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