Richard Has Been Given a 12-Question Multiple-Choice Quiz in His

question 2

Multiple Choice

Richard has been given a 12-question multiple-choice quiz in his history class. Each question has four answers, of which only one is correct. Since Richard has not attended the class recently, he doesn't know any of the answers. The success occurs if Richard answers a question correctly and the failure occurs if Richard is unable to answer a question correctly. Assuming that Richard guesses on all 12 questions, find the probability that he will answer no more than 3 questions correctly. Round your answer to the nearest thousandth.

• A)0.258
• B)0.500
• C)0.250
• D)0.649
• E)0.063

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Definitions:

1933 Act

Officially known as the Securities Act of 1933, it is a U.S. federal law that requires issuers of securities to provide financial and other significant information to investors prior to issuing securities to the public.

Criminal Violation

A breach of laws established at a municipal, state, or federal level that may result in prosecution and punishment.

Imprisonment

The act of confining a person or restricting their freedom as a punishment for a crime they have been convicted of.

Section 11

A provision of the U.S. Securities Act of 1933 that imposes liability on issuers and others for material misstatements or omissions in registration statements.