please help with 1 and 2 Students taking the Graduate Management Admissions Test (GMAT) were asked about their undergraduate major and intent to pursue their MBA as a full-time or part-time student. A summary of their responses follows. Answer questions 6-9. Undergraduate Major BusinessEngineeringOtherTotalsIntended Enrollment StatusFull-Time352197251800Part-Time150161194505Totals5023584451305 1. Refer to Table 1. What is the probability that the student was an undergraduate business major? Group of answer choices0.4400.0.3410.0.3847.0.2743. 2. Refer to Table 1. What is the probability that an undergraduate business major intends to attend classes full-time in pursuit of an MBA degree ? Group of answer choices0.7011.0.6130.0.4400.0.2697.

Answered: please help with 1 and 2 Students…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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please help with 1 and 2

Students taking the Graduate Management Admissions Test (GMAT) were asked about their undergraduate major and intent to pursue their MBA as a full-time or part-time student. A summary of their responses follows. Answer questions 6-9.

		Undergraduate Major
		Business	Engineering	Other	Totals
Intended Enrollment Status	Full-Time	352	197	251	800
Part-Time	150	161	194	505
Totals	502	358	445	1305

1. Refer to Table 1. What is the probability that the student was an undergraduate business major?

Group of answer choices

0.4400.

0.3410.

0.3847.

0.2743.

2. Refer to Table 1. What is the probability that an undergraduate business major intends to attend classes full-time in pursuit of an MBA degree ?

Group of answer choices

0.7011.

0.6130.

0.4400.

0.2697.

Expert Solution

Step 1

Probability of occurrence of an event is the ratio of the expected favourable number of cases and the total number of observations. The value lies between 0 and 1,zero being the case of an impossible situation while 1 being the case for a sure event.

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