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DOI: 10.1177/0013164487472007 Correcting Point-Biserial and Biserial Correlation Coefficients for Chance SuccessUniversity of North Carolina at Chapel Hill Formulas are provided for correcting point-biserial and biserial item-test correlations for the effect of chance success by guessing. It is pointed out that these chance-corrected correlations may sometimes exceed unity.
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