Explaining false positive and false negative

Reference no: EM1321348

Q1) Many economics students are unprepared for multiple- choice quiz with twenty five questions, and all of their answers are guesses. Each question has 5 possible answers , and only one of them is right.

a) Determine mean and standard deviation for number of right answers for such students.

b) Would it be unusual for student to pass by guessing and getting at least fifteen correct answers? Why or why not?

Q2) Describe what do you mean by terms 'false positive" and " false negative".

Q3) A carnival game costs $2 to play. Player first flips a coin, then rolls pair of dice, to win player should get head outcome followed by a"7" outcome on dice. If game is fair, what must the $ prize be when player wins.

Reference no: EM1321348

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