Examlex
Solve the problem.
-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.
Opportunity Cost
The cost of the next best alternative foregone when making a decision.
Specialization
A focus on a narrow area of knowledge or skill, leading to greater efficiency and expertise in that area.
Farmer
An individual who engages in the act of agriculture, raising living organisms for food or raw materials.
Rancher
An individual responsible for the ownership or operation of a ranch, which is a property dedicated to breeding and raising animals like cattle or sheep, primarily for producing meat or wool.
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