Question:
In answering a question on a multiple choice test, a student either knows the answer or guesses. Let $\frac{3}{4}$ be the probability that he knows the answer and $\frac{1}{4}$ be the probability that he guesses. Assuming that a student who guesses at the answer will be correct with probability $\frac{1}{4}$. What is the probability that the student knows the answer given that he answered it correctly?