Ellen, a risk-neutral test taker, just finished taking her decision analysis midterm. She understood the scoring rule from Homework #5, but was perplexed when she received a — 2c on the exam. On one...

Ellen, a risk-neutral test taker, just finished taking her decision analysis midterm. She understood the scoring rule from Homework #5, but was perplexed when she received a — 2c on the exam. On one of the questions she was absolutely certain that the answer was "b," so she assigned her belief of p = s = 1 to "b." Unfortunately for Ellen, she marked the wrong box and inadvertently put one for "c" and a zero for everything else, and as a result, p = 0. Oops. Now, Ellen wants you to help her identify how she should approach next year's midterm.