Question: Just need help understanding how to solve it The probabilities and gain or loss for guessing on a Outcome Gain or Loss Probability standardized test

Just need help understanding how to solve it

The probabilities and gain or loss for guessing on a Outcome Gain or Loss Probability standardized test is shown in the table to the right. Suppose that you eliminate one of the possible six Guess correctly ol - answers. Modify the two probabilities shown by finding the probabilities of guessing correctly and guessing incorrectly under these circumstances. Guess incorrectly What is the expected point value of a random guess? Is it advantageous to guess under these circumstances

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