Question: 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 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? [the expected value of a random variable that can take on two values (x1,x2) with probabilities (p,1-p) is E(X)= (p*(x1)) + ((1-p)*(x2)). In this case, p represents the chance of getting a correct answer, while x1 and x2 refer to the possible points].

A.

0.5

B.

0.25

C.

-0.25

D.

0

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