Suppose that there are 100 students entering the Master’s of Business Administration program. Of these students,...

Suppose that there are 100 students entering the Master’s of Business Administration program. Of these students, 20 have two years of work experience, 30 have three years of work experience, 15 have four years of work experience, and 35 have five or more years of work experience.

a) One of the students is selected at random. What is the probability that this student has at least three years of work experience?

b) The selected student has at least three years of work experience. What is the probability the student has four years of work experience?

c) Three students are selected at random. Calculate the probability that all three students have five or more years of work experience. Describe the key assumption required to make the calculation and comment on whether the assumption is reasonable.

d) Would it be reasonable to use the probability calculated in part a) as an estimate of the proportion of students entering the MBA degree program who have at least three years of work experience? Explain your answer. Limit your explanation to at most five sentences.

Expert Solution

milcah answered 1 year ago

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