Solve the Problem. -On a Multiple Choice Test with 11 Questions, Each Question

question 38

Multiple Choice

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 standard deviation for the number of correct answers.

• A)1.407
• B)1.342
• C)1.369
• D)1.436

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Definitions:

Property Rights

Legal rights that delineate the ownership and use of property, including rights to use, sell, rent, mortgage, transfer, and destroy the property.

Marginal Costs

The additional cost incurred by producing one more unit of a product or service, crucial for decision-making in economics and business.

Property Rights

The legal rights to possess, use, and dispose of assets, property rights are foundational to free market economies and influence resource allocation and investment.

Marginal Benefits

The additional satisfaction or utility gained from consuming or using one more unit of a good or service.