Wharton professor tests ChatGPT with his final exam, would give B or B-

Wharton professor tests ChatGPT with his final exam, would give B or B-

  • Wharton professor Christian Terwiesch tested ChatGPT with questions from his final exam.
  • Terwiesch found that ChatGPT could answer basic questions well, but sometimes made “astonishing mistakes” in simple calculations.
  • Terwiesch concluded that ChatGPT could get a B or B- on its final exam.

If ChatGPT were enrolled in the Wharton MBA program, what type of student would it be?

AB or B candidate, according to Christian Terwiesch, a Wharton professor who recently tested the technology with questions from his final exam in operations management, once a required class for all MBA students, and published his findings.

ChatGPT, an AI chatbot that generates its own text instead of responding to existing prompts, has caused considerable upheaval in the education system since its launch in November 2022. The bot has been used to generate essays, leading to a growing concern. about plagiarism among teachers. In January, the New York City Department of Education announced a ban on ChatGPT throughout its school system.

Others argue that ChatGPT can increase teacher efficiency and even make education more fair. Safe to say: ChatGPT has raised many questions about the future of the education system.

According to Terwiesch, ChatGPT does an “incredible job” answering basic operations questions based on case studies: focused examinations of a person, group or company, and the holy grail of business school education.

For example, Terwiesch proposed the following question to ChatGPT:

World-Antique is a new company being developed by two graduates of a New England business school. The company’s value proposition is simple: buy old paintings at garage sales and auctions, then sell them for four times the purchase price through a simple e-commerce site (i.e., a painting bought for $100 would sell to $400).

Based on an analysis of similar retailers, the founders expect to turn their inventory 1.5 times a year.

To achieve an annual income of $3,000,000, how much inventory in $s should the founders expect their operation to require?

To which ChatGPT replied:

“To achieve an annual income of $3,000,000, the founders need to sell $3,000,000 / 4 = $750,000 worth of paintings per year.

Since they expect to turn over their inventory 1.5 times a year, they need to have $750,000 / 1.5 = $500,000 in inventory at any given time.

Therefore, the founders should expect their operation to require $500,000 in inventory.”

Terwiesch deemed this “short and sweet” and worthy of an A+.

In other cases, however, ChatGPT made errors in calculations that Terwiesch said only required sixth-grade math. He noted that he also had trouble with more complex questions that required an understanding of how multiple inputs and outputs work together.

But when given a hint to ask, ChatGPT quickly and correctly modified its answers. Building on that, Terwiesch noted that having “a ‘human in the know’ can be very valuable.”

Since ChatGPT became known for generating fresh content, Terwiesch also decided to see how well he could do his job: writing his own exam questions. The questions he generated would likely require substantial editing, Terwiesch noted, but he also found them funny and said he would rely on ChatGPT to prepare for future exams.

Amid all the frenzy about how ChatGPT might affect the way we learn, Terwiesch makes a heartening case for its use as a tool to help humans.

He wrote: “We have every reason to believe that the technology is improving over time. But we are still far from an A+ for complex problems and still need a human in the loop.”

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