Argument #1
The Court should rule in favor of Jones in this case. Graduation prayers are not allowed under since they violate the Establishment Clause of the First Amendment. Whether students initiate the process or the school administrators do is irrelevant. And the fact that the majority of the student body is in favor of the prayer is also irrelevant since majorities cannot deny fundamental rights of individuals.

Argument #2
The Court should side with the school district since the prayer is initiated by the students, therefore it is not sponsored by the school. Plus the prayer itself is voluntary, nondenominational, and nonproselytizing.