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You are designing an exam scoring system that you would like to be neutral with regard to guessing. That is, you want students who don't know the answer to a question to have no incentive to guess, but no incentive to leave the question blank, either. If your questions all have four possible answers (a,b,c or d), and a right answer is worth one point, how much should you penalize a wrong answer? Explain.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9695725

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