A Multiple Choice Test Has 7 Questions Each of Which

question 132

Multiple Choice

A multiple choice test has 7 questions each of which has 5 possible answers, only one of which is correct. If Judy, who forgot to study for the test, guesses on all questions, what is the probability That she will answer exactly 3 questions correctly?

• A) 0.115
• B) 0.885
• C) 0.275
• D) 0.00800

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Definitions:

Compounded Monthly

Interest calculated on a principal amount and then added to that principal sum at the end of each month, effectively increasing the base for future interest calculations.

Quarterly Contributions

Payments or deposits made into an account or investment fund every three months.

RRSP

A Registered Retirement Savings Plan, which is a retirement savings and investing plan for employees and the self-employed in Canada.

Compounded Semi-Annually

The process of applying interest to a principal sum twice a year, resulting in interest earning interest over time.