An Unprepared Student Must Take a 7-Question, Multiple-Choice Test That

question 118

Multiple Choice

An unprepared student must take a 7-question, multiple-choice test that has 5 possible answers per question. If the student can eliminate 2 of the possible answers on the first 4 questions, and if she guesses on every question, what is the probability that she will answer every question correctly? ​

• A)Pr(all correct) =
• B)Pr(all correct) =
• C)Pr(all correct) =
• D)Pr(all correct) =
• E)Pr(all correct) =

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Definitions:

Profit-Maximizing Price

The price at which a company can sell its product to maximize its profit, determined by various market dynamics.

Profit-Maximizes

The strategy or aim of a firm to adjust its production and operational parameters to achieve the highest possible profits.

Profit-Maximizing Quantity

The level of production at which a firm achieves the maximum possible profit, where marginal revenue equals marginal cost.

Minimized Cost

The lowest possible expense at which a company can produce a product without sacrificing the quality or quantity of the product.