Mathematics, 01.03.2021 21:50, victoriapellam04

Standardized Test: You are trying to answer a multiple choice question on a standardized test. There are five choices. If you get the question right, you gain one point, and if you get it wrong, you lose 12 point. Assume you have no idea what the right answer is, so you pick one of the choices at random. Required:
a. What is the expected value of the number of points you get?
b. If you don't answer a question, you get O points. The test makers advise you not to answer a question if you have no idea which answer is correct. Do you think this is good advice? Explain.

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Standardized Test: You are trying to answer a multiple choice question on a standardized test. There...