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U.S. News & World Report’s ranking of America’s best graduate schools of business showed Harvard University and Stanford University in a tie for first place. In addition, 7 of the top 10 graduate schools of business showed students with an average undergraduate grade point average (GPA) of 3.50 or higher ( America’s Best Graduate Schools, 2009 edition, U.S. News & World Report). Suppose that we randomly select 2 of the top 10 graduate schools of business. a. What is the probability that exactly one school has students with an average undergraduate GPA of 3.50 or higher? b. What is the probability that both schools have students with an average undergraduate GPA of 3.50 or higher? c. What is the probability that neither school has students with an average undergraduate GPA of 3.50 or higher?

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STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884
BuyFind

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884

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Chapter
Section
Chapter 5, Problem 74SE
Textbook Problem

U.S. News & World Report’s ranking of America’s best graduate schools of business showed Harvard University and Stanford University in a tie for first place. In addition, 7 of the top 10 graduate schools of business showed students with an average undergraduate grade point average (GPA) of 3.50 or higher (America’s Best Graduate Schools, 2009 edition, U.S. News & World Report). Suppose that we randomly select 2 of the top 10 graduate schools of business.

  1. a. What is the probability that exactly one school has students with an average undergraduate GPA of 3.50 or higher?
  2. b. What is the probability that both schools have students with an average undergraduate GPA of 3.50 or higher?
  3. c. What is the probability that neither school has students with an average undergraduate GPA of 3.50 or higher?

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Chapter 5 Solutions

STATISTICS F/BUSINESS+ECONOMICS-TEXT
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