Joe Is Considering Pursuing an MBA Degree

question 6

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 at one, and only one, university?

• A) 0.50
• B) 0.10
• C) 0.15
• D) 0.30
• E) 0.45

Identify strategies for improving decision-making and satisficing in organizational processes.

Comprehend the concept and implications of escalating commitment in decision-making.

Recognize the importance of preparing for organizational crises to mitigate their impact.

Grasp the principles of satisficing and its role in decision-making under bounded rationality.

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Definitions:

Existentialism

A philosophical theory emphasizing individual existence, freedom, and choice, positing that individuals create the meanings of their lives.

Independent Variable

A variable that is manipulated in an experiment to see if it affects the outcome or dependent variable.

Dependent Variable

In scientific research, the variable that is tested and measured to determine if it is affected by changes in the independent variable.

Self-critical

A tendency to evaluate oneself harshly, focusing on one’s flaws and shortcomings.