In Recent Years, 30% of the Patent Applications Submitted to the US

question 49

Multiple Choice

In recent years, 30% of the patent applications submitted to the US Patent Office have been approved.Assuming that this same rate holds in the future, if 15 new applications are submitted this year, how likely is it that between 11 and 13 (inclusive) applications will be disapproved?

• A).4093
• B).4802
• C).5198
• D).3557
• E).6455

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Definitions:

Frugal Heuristics

Cognitive shortcuts or rules of thumb that simplify decision making.

Effective Decision Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions to achieve a goal.

Thoughtful Deliberation

A process of carefully considering and reflecting on various options or aspects of a situation before making a decision.

Alternatives

Alternatives refer to other options or choices available in a given situation.