Miss Piggy, trying to prove that she is not just a pretty face, urged all of the Muppets to apply to law school at Sock Puppet University. In preparation for their law school applications, each Muppet took the LSAT
Miss Piggy, trying to prove that she is not just a pretty face, urged all of the Muppets to apply to law school at Sock Puppet University. In preparation for their law school applications, each Muppet took the LSAT and received scores uniformly distributed from Animal’s score of 10 to Kermit the Frog’s score of 180. The total cost (in present value) of attending Sock Puppet University Law School is $136,000. The Muppets’ earnings are directly related to their performance on the LSAT, regardless of whether they go to law school. Those who do not go to law school will earn a present value of YNL = 100×LSAT, while those who do attend law school earn YL =1,000+1,000×LSAT.
What is the average earnings of the Muppets who attend law school and the earnings of the Muppets who do not attend law school?
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