Question: The following probabilities for grades in management science have been determined based on past records:
Grade
|
Probability
|
A
|
0.1
|
B
|
0.3
|
C
|
0.4
|
D
|
0.1
|
F
|
0.1
|
The grades are assigned on a 4.0 scale, where an A is 4.0, B is 3.0, & so on. Estimate the expected grade & variance for the course.