No, I do not know anyone who determines grades this way. Do I think some professors like like trying it at points? Sure, but let’s just hope they’re generally an ethical lot. Still, determining final grades in a sort of Price Is Right format might be fun for both student and teacher. Plinko might improve several GPAs.
HBOO: That seems wrong.
BEARD: Because it's unethical to determine grades randomly?
HOBO: No, because you're a bad shot.
BEARD: Ouch is right. Somebody failed.