A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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Transcribed Image Text: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.
(Round to two decimal places as needed.)
O A. No, the student should not guess because the expected value is
O B. Yes, the student should guess because the expected value is
O C. The student will have no loss or gain by guessing because the expected value is
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