39. What are the costs(opportunity costs) and benefits of writing this paper?
Weighing the pros and cons and deciding whether or not to write this paper (increase your paper production by 1) is analogous to firms’ analyzing their revenues and costs and deciding whether or not to increase production. What aspect of this paper is analogous to a firm’s marginal revenue? Using the formula on syllabus for calculating your course grade, analyze the benefits of writing this paper with some numbers:
If a person had a grade of 2.0 on all four tests, participation, and both papers, their course grade would be 2.0 (C). If this person turned in a third paper and improved their lowest paper grade by 1.0 (from 2.0 to 3.0), what would their decimal course grade be (don’t round off the number)? How much did writing the third paper improve their decimal course grade by, i.e., what is the marginal benefit of writing the third paper?
If a person had a grade of 3.0 on all four tests, participation, and both papers, their course grade would be 3.0 (B). If this person turned in a third paper and improved their lowest paper grade by 1.0 (from 3.0 to 4.0), what would their decimal course grade be (don’t round off the number)? How much did writing the third paper improve their decimal course grade by, i.e., what is the marginal benefit of writing the third paper?
If you improve your lowest paper grade by 1.0, how much will writing the third paper improve your decimal course grade by (don’t round off the number)? Would that be likely to increase your letter grade? Are you likely to improve your lowest paper grade by 1.0?
Under what conditions should the paper be written or not written? Explain the relevant factors. Give some examples of when it would and would not make sense to write this third paper. Business decisions are based on numbers, you need numbers in your paper. Using a spreadsheet to calculate your course grade and impact of this paper on your course grade is a good idea.
Test1 16%
Test2 16%
Test3 16%
Final 26%
Paper1 7%
Paper2 7%
Paper3 7%
Class participation 5%
Two highest grades of papers will be taken that means each paper is 10.5%
My grade currently:
Test1 – 3.5, Test2 – 4.1, Test3 is supposed to be 4.0, final is supposed to be 4.0.
Paper1 – 1.9 Paper2 – 3.0 Paper3 is supposed to be 3.0
Participation grade 4.0
Formula for grade:
.16 x (adding of the test grades) + .105 x (two highest grades of papers) + .26 x final grade + .05 x participation grade.
Decimal-letter grade conversation:
3.8 – 4.0 A
3.5 – 3.799 A-
3.2 – 3.499 B+
2.8 – 3.199 B
2.5 – 2.799 B-