Joe Is Considering Pursuing an MBA Degree

question 73

Multiple Choice

Joe is considering pursuing an MBA degree. He has applied to two different universities. The acceptance rate for applicants with similar qualifications is 25 percent for University A and 40 percent for University B. What is the probability that Joe will be accepted by at least one of the two universities?

• A) 0.25
• B) 0.55
• C) 0.10
• D) 0.35
• E) 0.40

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Definitions:

Oil

A fossil fuel found in the Earth's crust, primarily used for energy production and as a raw material in the chemical industry; crucial to the global economy.

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than its competitors.

Transaction

An exchange or transfer of goods, services, or funds between two or more parties.

Gain

An increase in wealth, resources, or advantage, often observed in financial contexts such as investment returns.