Richard Has Been Given a 5-Question Multiple-Choice Quiz in His

question 15

Multiple Choice

Richard has been given a 5-question multiple-choice quiz in his history class. Each question has three 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 5 questions, find the probability that he will answer all questions correctly. Round your answer to the nearest thousandth.

• A)0.004
• B)0.333
• C)0.500
• D)0.067
• E)0.600

---

Definitions:

Prospector

A strategy or role in business or management characterized by a focus on innovation, risk-taking, and the exploration of new markets or opportunities.

Monopolies

Situations or markets in which a single entity controls a significant portion of or all the supply of a particular product or service, thus limiting or eliminating competition.

Command-and-Control

A management style characterized by strict authority, where decisions are made at the top and communicated down through the hierarchy.

Management Model

A theoretical framework or tool that outlines the strategies, practices, and procedures used to manage an organization effectively.