SOLUTION: A student who plans to major in Engineering must decide whether to attend Michigan or Northwestern University. His probability of successfully graduating from Michigan is 60% with

Question 1149435: A student who plans to major in Engineering must decide whether to attend Michigan or Northwestern University. His probability of successfully graduating from Michigan is 60% with a starting salary of $35K. His probability of successfully graduating from Northwestern is 70% with a starting salary of $32K. Which University should he attend?
Answer by ikleyn(52805) (Show Source): You can put this solution on YOUR website!
.


Expectation at Michigan university is  0.6*35 K.


Expectation at the Northwestern university is 0.7*32 K.


Calculate and compare.

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