A student is taking a standardized test consisting of several multiple-choice questions. One point is awarded for each correct answer. Questions left blank neither receive nor lose points. There are 1 seven options for each question and the student is penalized point for each wrong answer. Is it in the student's best interest to guess? Explain. Determine if it is in the best interest of the student to guess and explain your answer using the expected value. Choose the correct answer below.

A student is taking a standardized test consisting of several multiple-choice questions. One point is awarded for each correct answer. Questions left blank neither receive nor lose points. There are 1 seven options for each question and the student is penalized point for each wrong answer. Is it in the student's best interest to guess? Explain. Determine if it is in the best interest of the student to guess and explain your answer using the expected value. Choose the correct answer below.

Name: A student is taking a standardized test consisting of several multipl
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Description: A student is taking a standardized test consisting of several multiple-choice questions. One point isawarded for each correct answer. Questions left blank neither receive nor lose points. There are1seven options for each question and the student is

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.5: Comparing Sets Of Data

Problem 26PFA

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Few students manage to complete their schooling without taking a standardized admissions test such as the Scholastic Achievement Test, or SAT (used for admission to college); the Law School Admissions Test, or LSAT; and the Graduate Record Exam, or GRE (used for admission to graduate school). Sometimes, these multiple-choice tests discourage guessing by subtracting points for wrong answers. In particular, a correct answer will be worth +1 point, and an incorrect answer on a question with five listed answers (a through e) will be worth − 1 4 point. (a) Find the expected value of a random guess.(b) Find the expected value of eliminating one answer and guessing among the remaining four possible answers. (Enter an exact number as an integer, fraction, or decimal.)(c) Find the expected value of eliminating three answers and guessing between the remaining two possible answers. (Enter an exact number as an integer, fraction, or decimal.)(d) Use decision theory and your answers to…
Few students manage to complete their schooling without taking a standardized admissions test such as the Scholastic Achievement Test, or SAT (used for admission to college); the Law School Admissions Test, or LSAT; and the Graduate Record Exam, or GRE (used for admission to graduate school). Sometimes, these multiple-choice tests discourage guessing by subtracting points for wrong answers. In particular, a correct answer will be worth +1 point, and an incorrect answer on a question with five listed answers (a through e) will be worth − 1 4 point. (a) Find the expected value of a random guess.(b) Find the expected value of eliminating one answer and guessing among the remaining four possible answers. (Enter an exact number as an integer, fraction, or decimal.)(c) Find the expected value of eliminating three answers and guessing between the remaining two possible answers. (Enter an exact number as an integer, fraction, or decimal.)
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