SOLUTION: in a multiple choice test each question has four options. students will get 5 points for each correct answer; lose 1 point for each incorrect answer; and recieve no points for unan

Question 477740: in a multiple choice test each question has four options. students will get 5 points for each correct answer; lose 1 point for each incorrect answer; and recieve no points for unanswered questions. A student does not know the correct answer for one question. Is it to her advantage or disadvantage to guess an answer? Show calculations for expected value.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
in a multiple choice test each question has four options. students will get 5 points for each correct answer; lose 1 point for each incorrect answer; and recieve no points for unanswered questions. A student does not know the correct answer for one question. Is it to her advantage or disadvantage to guess an answer? Show calculations for expected value.
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E(points) = (1/4)5 + (3/4)(-1) = (5/4) - (3/4) = 1/2
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Expect to gain 1/2 point on each question answered.
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Cheers,
Stan H.
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