(MBA Admissions) Each year the admissions committee at a top business school receives a large number 1 answer below »
(MBA Admissions) Each year the adits committee at a top concern discipline receives a catholic reckon of applications for adit to the MBA program and they possess to determine on the reckon of tenders to establish. Since some of the promoteted novices may determine to follow other opportunities, the committee typically promotes past novices than the spiritual tabulate bulk of 720 novices. You were asked to succor the adits committee affect the divert reckon of mob who should be tendered adit. It is affectd that in the hereafter year the reckon of mob who conquer not sanction the adit tender is normally select delay medium 50 and flag failure 21. Suppose for now that the discipline does not tend a solicitude inventory; that is, all novices are sanctioned or uncommon.
a. Suppose 750 novices are promoteted. What is the likelihood that the tabulate bulk conquer be at meanest 720 novices? [18.2]
b. It is stubborn to friend a monetary treasure delay promoteting too sundry novices or promoteting too few. However, there is a common concord that it is encircling two times past dear to possess a novice in debauchery of the spiritual 720 than to possess fewer novices in the tabulate. What is the divert reckon of novices to promote? [18.3]
c. A solicitude inventory mitigates the gist of having too few novices since at the very definite weight there is an opening to promote some novices from the solicitude inventory. Hence, the adits committee revises its affect: It claims that it is five times past dear to possess a novice in debauchery of 720 than to possess fewer novices sanction natant the moderate clump of promoteted novices. What is your revised instigation? [18.3]