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. What is the expected point value of a random guess? Is it advantageous to guess under these circumstances? Outcome Guess correctly Guess incorrectly Gain or Loss Probability 1 5 4 5 Choose the correct answer below, and fill in the answer box to complete your choice. (Type an integer or a decimal rounded to two decimal places as needed.) OA. The expected point value is B. The expected point value is so it is not advantageous to guess. so it is advantageous to guess.
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. What is the expected point value of a random guess? Is it advantageous to guess under these circumstances? Outcome Guess correctly Guess incorrectly Gain or Loss Probability 1 5 4 5 Choose the correct answer below, and fill in the answer box to complete your choice. (Type an integer or a decimal rounded to two decimal places as needed.) OA. The expected point value is B. The expected point value is so it is not advantageous to guess. so it is advantageous to guess.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.3: Conditional Probability; Independent Events; Bayes' Theorem
Problem 7YT
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Transcribed Image Text: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.
What is the expected point value of a random guess? Is it advantageous to guess under these circumstances?
Outcome
Guess correctly
Guess incorrectly
Gain or Loss Probability
1
5
4
5
Choose the correct answer below, and fill in the answer box to complete your choice.
(Type an integer or a decimal rounded to two decimal places as needed.)
OA. The expected point value is
B. The expected point value is
so it is not advantageous to guess.
so it is advantageous to guess.
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