Math Problem Statement
- If the graduate applies to all 10 companies, what is the probability that she will get at least one offer?
- If she can apply to only one company, based on cost and success probability criteria alone, should she apply to company 5? Why or why not?
- If she applies to companies 2, 5, 8, and 9, what is the total cost? What is the probability that she will get at least one offer?
- If she wants to be at least 75% confident of getting at least one offer, to which companies should she apply to minimize the total cost?
- If she is willing to spend $1,500, to which companies should she apply to maximize her chances of getting at least one job?
Solution
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Math Problem Analysis
Mathematical Concepts
Probability
Cost-Benefit Analysis
Combinatorics
Formulas
P(at least one offer) = 1 - P(no offers) = 1 - (1 - P(offer1))(1 - P(offer2))...(1 - P(offerN))
Total Cost = Cost of Company 1 + Cost of Company 2 + ... + Cost of Company N
Theorems
Law of Total Probability
Multiplication Rule of Independent Events
Suitable Grade Level
Undergraduate/Advanced High School
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