A Multiple-Choice Quiz Has Three Possible Answer Choices for Each

question 58

Multiple Choice

A multiple-choice quiz has three possible answer choices for each question. You get four points for each correct answer, but you lose three points for each incorrect answer. No points are gained or lost if you leave the question blank. What is the mean point value of a random guess on the quiz?

• A) one point
• B) 1/3 points
• C) −1/3 points
• D) −2/3 points

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Definitions:

Optimal R&D Expenditures

The level of spending on research and development that maximizes an organization's returns or value.

Fast-Second Strategies

A business approach where companies quickly follow pioneers in a new market or technology, leveraging the groundwork laid by the first movers.

Dominant Firms

Refers to companies that have a major share of the market and significant influence over the prices and availability of products or services.

Start-Up Firms

Newly established businesses often characterized by innovation, scalability, and high growth potential.