A very short quiz has one multiple choice question with five possible choices (a, b, c, d, e) and one true or false question. Assume you are taking the quiz but do not have any idea what the correct answer is to either question, but you mark an answer anyway.
a. What is the probability that you have given the correct answer to both questions?
b. What is the probability that only one of the two answers is correct?
c. What is the probability that neither answer is correct?
d. What is the probability that only your answer to the multiple choice question is correct?
e. What is the probability that you have only answered the true or false question correctly?
Question 2
Revenue management methodology enables an airline to maximize the number of full-fare seats it sells on each flight.
a. True
b. False
Indicate whether the statement is true or false
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