Suppose that a college graduate earns about 78% more money per hour than a high- school graduate. If the lifetime earnings of a high-school graduate average $1,200,000, what is the expected value of earning a college degree?
I did (1,200,000)(1.78) = 2,136,000 I thought this was the answer but would the answer actually be 2,136,000-1,200,000 and be 936,000?