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 six 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 5 Guess incorrectly 3 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.) ○ A. The expected point value is so it is advantageous to guess. OB. The expected point value is so it is not 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 six 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 5 Guess incorrectly 3 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.) ○ A. The expected point value is so it is advantageous to guess. OB. The expected point value is so it is not advantageous to guess.
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 50E: Medicine Out of a group of 9 patients treated with a new drug, 4 suffered a relapse. Find the...
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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 six 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
5
Guess incorrectly
3
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.)
○ A. The expected point value is
so it is advantageous to guess.
OB. The expected point value is
so it is not advantageous to guess.
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