If you have to make a random guess and there are five, Econometrics

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If you have to make a random guess and there are five

You are taking a multiple-choice test that awards you one point for a correct answer and penalizes you 0.25 points for an incorrect answer. If you have to make a random guess and there are five possible answers, what is the expected value of guessing?

a. 0.5 points

b. 0.25 points

c. -0.25 points

d. 0 points

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Econometrics: If you have to make a random guess and there are five

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Econometrics: If you have to make a random guess and there are five

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