In 1966,the Average Tuition for One Year in the MBA

question 97

Multiple Choice

In 1966,the average tuition for one year in the MBA program at the University of Chicago was $3,600.Thirty years later,in 1996,the average tuition was $27,400.What is the compound annual growth rate in tuition (rounded to the nearest whole percentage) over the 30-year period?

• A)6%
• B)7%
• C)8%
• D)10%

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Definitions:

Dual-Reasoning

The cognitive ability to think and process information in two distinct ways, often analytical and intuitive.

Emotional-Analytic

A term that might not be widely recognized in established fields but suggests an approach that combines emotional understanding with analytical reasoning.

Analytic Thought

Refers to the cognitive process of breaking down complex information or comprehensive data into fundamental parts or basic principles.

Concrete Operational

A stage in Piaget's theory of cognitive development, occurring around age 7 to 11, when children gain a better understanding of mental operations and physical quantities.