According to the Law of Absorption, A+(A*B) = A. Boolean B is "absorbed" by A.
Similarly, A*(A+B) = A.
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http://www.cgca.net/coglinks/wcglit/hoehcompendium/hhc1toc.htm
The two courses cover similar curriculum, however AP courses go in more depth on most topics and even explore other topics that would be left out of Regent's level courses.
It is better to get a B in an AP class then an A in an Honors class, just as it is better to get a B in an Honors class then an A in a College Prep class. When colleges look at your application, they want to know that you are challenging yourself and taking hard classes, because they are essentially looking to see how well you will do in their school. AP classes are considered to be tougher then Honors classes, because AP classes are introductory college classes that are taken during high school- that's why some colleges give credit for a high enough AP test score. However, Honors classes are really just advanced high school classes.
Grade reviews done for college entrance are done in an 'over-all' manner. The amount of honors classes taken will be noted and average GPA. Other classes will be looked at, and also that GPA. Individual classes are very seldom picked out to review grades, unless you are seeking to enter a very specialized field, and have taken many college prep classes in that area as honors classes. Most high schools do not offer enough 'specialized' prep classes for specific college interest.
The cutoff score for a 5 on both the Calculus AB and Calculus BC exams offered by the College Board change each year accordingly. The graders will scale the scores statistically and apply curves in order to determine the thresholds between grades.
Typically, the minimum amount of points needed to obtain a score of 5 is 68 out of 108 possible points.
You can find the scoring guide for the AP Calculus tests on the college board website under AP subjects, calculus, sample questions and scoring guides.
This is a question that only you can answer since it seems you are applying for a scholarship.