In a certain game, you pick a card from a standard deck of 52 cards. If the card is a heart, you win. If the card is not a heart, the person replaces the card to the deck, reshuffles, and draws again. The person keeps repeating that process until he picks a heart, and the point is to measure how many draws did it take before the person picked a heart and won. What is the probability that there will be at least three draws involved in a win, i.e. someone picking her first heart on the third draw or later?
Probability of picking a heart on any draw = 1/4
Probability of NOT picking a heart on the first draw AND on the second draw = [1-(1/4)] X [1-(1/4)] = 3/4 X 3/4 = 9/16
The only ability the GMAT is an indicator of...is the ability to do well on the GMAT.