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:

Production Possibility Frontier

A curve depicting the maximum attainable combinations of two products that may be produced with available resources and current technology.

Inefficiency

A situation where resources are not used in the best possible way, often leading to waste and a lower output than could be achieved.

Trade

The exchange of goods, services, or both between two or more parties.

Factors of Production

The assets employed to produce goods and services, encompassing land, labor, capital, and entrepreneurship.