Question
4. GMAC MBA NEW-MARTICULANTS SURVEY MBA programs in various colleges and universities bo the United States often administer the Graduate Management Admissions Council (GMAC) MBA New-Matriculants Survey to their new students each year. Data collected on two types of information typically received the most attention trom these various MBA Programs, the age group of the new matriculants and whether or not they appied to more than one school. Recently this survey Provided the following data. Applied to More Than One School Yes No 23 and under 201 24-26 379 Group 27-30 185 268 31-35 193 36 and over 51 169 Suppose you are a decision maker in an MBA program Provide answers to the following questions 1. What is the probability that a randomly selected MEA applicant would be 23 years of age or younger 2. What is the probability that a randomly selected MBA PPolicant would be older than 26? 3. What is the probability that a randomly selected MBA applicant would apply to more than one school? 4. If a randomly selected MBA applicent applied to more pharone school, what is the probability that such an applicant is between the ages of 24 and 26? 5. If a randomly selected MBA applicant is at least 36 years iof age. what is the probability that such an applicant applied to more than one school? 6. What is the probability that a randomly selected MEA applicant is between the ages of 24 and 26 or applied to more
Explanation / Answer
1) P(applicant would be 23 years age or younger
= (207 + 201) / 2018 = 408/2018 = 0.2
2) P(applicant would be older than 26) = (299 + 379 + 185 + 268 + 66 + 193 + 51 + 169)/2018 = 1610/2018 = 0.8
3) P(applied more than one school) = (207 + 299 + 185 + 66 + 51) / 2018 = 808/2018 = 0.4
4) P(age between 24 and 26) | applicant applied to more than one school ) = (299/2018) / (808 / 2018) = 0.37
5) P(applicant applied more than one school | age is at least 36) = (51/2018) /(51 + 169 / 2018) = 51/220 = 0.23
6) P(applied to more than one school or age between 24 and 26) = P(applied to more than one school) + P(age between 24 and 26) - P(applied more than one school and age between 24 and 26)
= 808/2018 + 678/2018 - 299/2018
= 0.59
