The probabilities and gain or loss for guessing on a standardized test is shown in the table to the right. Suppose that you eliminate two of the possible five answers. Modify the two probabilities shown by finding the probabilities of guessing correctly and guessing incorrectly under these circumstances. Outcome Guess correctly Gain or Loss Probability 1 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. (Type an integer or a decimal rounded to two decimal places as needed.) so it is not advantageous to guess. A. The expected point value is OB. The expected point value is , so it is advantageous to guess. 5 4 Guess incorrectly 4 +

What is the difference between events and outcomes? Give an example of both using the sample space of tossing a coin 50 times.

Medicine Out of a group of 9 patients treated with a new drug, 4 suffered a relapse. Find the probability that 3 patients of this group, chosen at random, will remain disease-free.

Flexible Work Hours In a recent survey, people were asked whether they would prefer to work flexible hours----even when it meant slower career advancement----so they could spend more time with their families. The figure shows the results of the survey. What is the probability that three people chosen at random would prefer flexible work hours?