What is the expected point value of a random​ guess? Is it advantageous to guess under these​ circumstances?   (Choose the correct answer​ below, and fill in the answer box to complete your choice.)   A. The expected point value is ________​, so it is advantageous to guess.   B. The expected point value is ________​, so it is not advantageous to guess.   ​(Type an integer or a decimal rounded to two decimal places as​ needed.)

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.3: Binomial Probability
Problem 2E: If a binomial experiment has probability p success, then the probability of failure is...
icon
Related questions
Question
11.8.9
 
 
 
 
The probabilities and gain or loss for guessing on a standardized test is shown in the table to the right. Suppose that you eliminate
one
of the possible
five
answers. Modify the two probabilities shown by finding the probabilities of guessing correctly and guessing incorrectly under these circumstances.
Outcome
Gain or Loss
Probability
Guess correctly
1
15
Guess incorrectly
−12
45
 
What is the expected point value of a random​ guess? Is it advantageous to guess under these​ circumstances?
 
(Choose the correct answer​ below, and fill in the answer box to complete your choice.)
 
A. The expected point value is ________​, so it is advantageous to guess.
 
B. The expected point value is ________​, so it is not advantageous to guess.
 
​(Type an integer or a decimal rounded to two decimal places as​ needed.)
 
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Basics of Inferential Statistics
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage