Problem
In the 1960s Yale University began offering students an alternative to taking out student loans. Instead, students could attend Yale in exchange for a specified percentage of their earnings over a significant length of time. Yale used historical data to determine the percentage so that the program would pay for itself?-?large payments from high earners would offset the smaller payments from low earners.
a. If you were planning on becoming a Wall Street financier, would you be more likely to take out loans or enroll in the Yale program? Why?
b. If you were planning on becoming a missionary, would you be more likely to take out loans or enroll in the Yale program? Why?
c. The tuition program turned out to be a financial disaster for Yale. Do your answers to (a) and (b) shed light on why? Explain.
d. What kind of information problem did the Yale program suffer from?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.