Yes it is graded, but keep in mind that the work we've done on Lord Chesterfield will help you succeed. If you feel that your AP squared chart of the Lord Chesterfield letter was lacking, you may find benefit in redoing it or adding to it to the same level we did in class today.
If nothing else, it will help you develop the habits of mind that will give you success in doing analysis. Developing those habits of mind will help you a great deal on the AP test as well as in AP Lit next year and in college the year after. Frankly, the ability to think through something thoroughly, to analyze its parts in relation to its whole, is useful in most careers as well as life as a thinking person in society.