Salem University's MBA Program Has a 55% Acceptance Rate

question 77

Multiple Choice

Salem University's MBA program has a 55% acceptance rate.If you randomly select a sample of 20 applicants, how likely is it that between 13 and 17 (inclusive) of the applicants will be accepted into the program?

• A).2989
• B).3196
• C).3341
• D).2511
• E).2813

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Definitions:

Variable Costs

Expenses that vary directly with the level of production or sales volume, such as raw materials and direct labor costs.

Support Departments

Units within an organization that provide essential services or support to the production or primary activities departments.

Indirect Costs

Expenses that are not directly traceable to a specific product, project, or activity, often including utilities, rent, and administrative salaries.

Responsibility Centres

Sections or divisions of a business for which a manager has authority and responsibility, typically including revenue, expense, profit, and investment centers.