Student Admissions Are Based on the Following Table, Which Shows

question 245

Multiple Choice

Student admissions are based on the following table, which shows the profile, by Math SAT I scores, of admitted students at some university for the Fall 2004 semester. Determine the theoretical probability of the event: "An applicant had a Math SAT below 400." (Round your answer to the nearest 0.01) . $$\begin{array} { | l | l | l | l | l | l | l | } \hline & \mathbf { 2 0 0 } - \mathbf { 3 9 9 } & \mathbf { 4 0 0 } - \mathbf { 4 9 9 } & \mathbf { 5 0 0 } - \mathbf { 5 9 9 } & \mathbf { 6 0 0 } - \mathbf { 6 9 9 } & \mathbf { 7 0 0 } - \mathbf { 8 0 0 } & \text { Total } \\\hline \text { Admitted } & 8 & 212 & 1,124 & 2,882 & 5,270 & 9,496 \\\hline \begin{array} { l } \text { Not } \\\text { Admitted }\end{array} & 752 & 3,510 & 9,582 & 12,230 & 5,150 & 31,224 \\\hline \begin{array} { l } \text { Total } \\\text { Applicants }\end{array} & 760 & 3,722 & 10,706 & 15,112 & 10,420 & 40,720 \\\hline\end{array}$$

• A)0.04
• B) 0
• C) 0.01
• D) 0.02
• E) 0.07

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Definitions:

Optimum Performance

The most efficient and effective level of functioning of a system or device.

Menu Costs

The costs incurred by firms in order to change their prices, including costs related to printing new menus, re-tagging items, or advertising new prices.

Inflation-induced Tax Distortions

Discrepancies in the effective tax burden caused by inflation, which can lead to distorted investment and consumption decisions.

Shoeleather Costs

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