Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized for You

we will pick new questions that match your level based on your Timer History

Track Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

It appears that you are browsing the GMAT Club forum unregistered!

Signing up is free, quick, and confidential.
Join other 500,000 members and get the full benefits of GMAT Club

Registration gives you:

Tests

Take 11 tests and quizzes from GMAT Club and leading GMAT prep companies such as Manhattan GMAT,
Knewton, and others. All are free for GMAT Club members.

Applicant Stats

View detailed applicant stats such as GPA, GMAT score, work experience, location, application
status, and more

Books/Downloads

Download thousands of study notes,
question collections, GMAT Club’s
Grammar and Math books.
All are free!

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

Of the students at a certain business school, 60% are [#permalink]

Show Tags

03 Oct 2005, 07:04

00:00

A

B

C

D

E

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct
0% (00:00) wrong based on 0 sessions

HideShow timer Statictics

This topic is locked. If you want to discuss this question please re-post it in the respective forum.

Of the students at a certain business school, 60% are first-year students and 40% are second-year students. Of the first-year students, 50% are receiving some form of financial aid. Of the second-year students, 25% are receiving some form of financial aid. If a student is chosen at random, what is the probability that he or she is receiving some form of financial aid?

I got E. I usually do these sort of problems by picking a number and deducing the answer. For instance, let's say the b-school has 100 students. So there are 60 (60%) first year students and 40 (40%) second year students. Of the first year students, 30 (50%) get FA, while the other 30 does not. Of the second year students, 10 (25%) get FA while 30 do not. This adds up to 40 total students that receive FA out of 100. This equals 0.40, answer E. What is the OA? _________________

Also don't forget that drawing a table can clear up this problem considerably. I'll try this here at the forumn.

___1yr_2yr____
FA l 30 l 10 l 40 total
------------------
NFA l 30 l 30 l 60 total
------------------
-------60 -40---100 total students
FA- Financial Aid
NFA-No Financial Aid

I hope this makes sense. It assumes 100 students total, this method can also be used for various overlapping sets.

Last edited by jrabenho on 03 Oct 2005, 09:58, edited 8 times in total.

Of the students at a certain business school, 60% are first-year students and 40% are second-year students. Of the first-year students, 50% are receiving some form of financial aid. Of the second-year students, 25% are receiving some form of financial aid. If a student is chosen at random, what is the probability that he or she is receiving some form of financial aid?

A. .50 B. .33 C. .10 D. .30 E. .40

P(Ist yr) = .6
P(II yr) = .4
P(Ist yr and fin aid) = .5
P(II yr and fin aid) = .25
P(rec fin aid) = (.6 * .5) + (.4 * .25) = .40

I should say, I also "enjoyed" the solution of silentell

Since we were dealing with ood percentage numbers, I chose 100 student as the total. 60=first year and 40=second year. Then I got 30=1st w/fin aid and 10=2nd w/fin aid for a total of 40.

Of the students at a certain business school, 60% are first-year students and 40% are second-year students. Of the first-year students, 50% are receiving some form of financial aid. Of the second-year students, 25% are receiving some form of financial aid. If a student is chosen at random, what is the probability that he or she is receiving some form of financial aid?

A. .50 B. .33 C. .10 D. .30 E. .40

another E
pick number 100 HERE

60 first year half 30 FINANCIAL AID
40 second year 10 FINANCIAL
TOTAL FINANCIAL AID 40 over total number of student first and second year
40% _________________