On a Multiple Choice Test with 11 Questions, Each Question

question 117

Multiple Choice

On a multiple choice test with 11 questions, each question has four possible answers, one of which is correct. For students who guess at all answers, find the mean for the number of correct answers.

• A) 5.5
• B) 2.8
• C) 3.7
• D) 8.3

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Definitions:

Variable Cost

Charges that adjust in relation to the amount of goods produced or level of enterprise activity.

Output Volume

The quantity of goods or services produced by a company, industry, or economic sector during a specified period.

Total Cost

The complete cost of producing or purchasing goods, encompassing both fixed and variable expenses.

Centre of Gravity

A method used in logistics and supply chain management to find the optimal location of a facility based on minimizing transportation costs.