(b) Use the marginal probabilities of undergraduate major (business, engineering, or other) to comment on which undergraduate major produces the most potential MBA students. From the marginal probabilities, we can tell that ---Select--- majors produce the most potential MBA students. (c) If a student intends to attend classes full-time in pursuit of an MBA degree, what is the probability that the student was an undergraduate engineering major? (Round your answer to three decimal places.)
Permutations and Combinations
If there are 5 dishes, they can be relished in any order at a time. In permutation, it should be in a particular order. In combination, the order does not matter. Take 3 letters a, b, and c. The possible ways of pairing any two letters are ab, bc, ac, ba, cb and ca. It is in a particular order. So, this can be called the permutation of a, b, and c. But if the order does not matter then ab is the same as ba. Similarly, bc is the same as cb and ac is the same as ca. Here the list has ab, bc, and ac alone. This can be called the combination of a, b, and c.
Counting Theory
The fundamental counting principle is a rule that is used to count the total number of possible outcomes in a given situation.
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