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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 +

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 +

College Algebra (MindTap Course List)
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 60E: Explain the Multiplication Property of Probabilities.
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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 +
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 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 +
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