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# Probability of Getting into Business School

Author Message
Senior Manager
Status: Current Student
Joined: 14 Oct 2009
Posts: 371
Schools: Chicago Booth 2013, Ross, Duke , Kellogg , Stanford, Haas
Followers: 13

Kudos [?]: 106 [1] , given: 53

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23 Sep 2010, 10:26
1
KUDOS
Ahh..I've been studying for GMAT way too long and bored of meaningless word problems, so came up with my own applicable one and actually feel a little better now (assuming I did the math correctly this time, oh god I hope I can do the math correctly!)

Michmax3 is applying to 5 top business schools with the following acceptance rates: Chicago (22%), Stanford (5%), Berkeley (12%), Kellogg (19%) and Duke (30%). What is the probability that she will be accepted to at least one of these schools?

P (getting in at least one school) = 1- P (getting rejected from all schools)

1-(.78 x .95 x .88 x .81 x .70) =
1-(.369) = .63

So...probability that I will get in to at least one school of my choice is about 63%
I can live with that! Happy studying everyone!

Disclaimer: Obviously not everyone has an equal probability of being accepted to begin with, so since this is based only on random selection, it will not be accurate. Maybe this question could be revised to include more details, like possibly I get +1% for being female, but maybe lose 5% for under 700 GMAT...well only until the retake hopefully!)
_________________
Moderator
Status: battlecruiser, operational...
Joined: 25 Apr 2010
Posts: 983
Schools: Carey '16
GMAT 1: Q V
Followers: 12

Kudos [?]: 137 [0], given: 71

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23 Sep 2010, 11:05
that's some good computing skills. just keep working on it and i'm sure you'll get there.
_________________
Ms. Big Fat Panda
Status: Three Down.
Joined: 09 Jun 2010
Posts: 1922
Concentration: General Management, Nonprofit
Followers: 433

Kudos [?]: 1866 [0], given: 210

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23 Sep 2010, 12:57
Haha, I am sure you'll get into at least one of the schools you like. I definitely hope so.
VP
Joined: 09 Dec 2008
Posts: 1221
Schools: Kellogg Class of 2011
Followers: 21

Kudos [?]: 242 [0], given: 17

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23 Sep 2010, 13:23
Unfortunately, getting accepted is not a random event (every candidate does not have an equally likely chance of admittance) so probability theory doesn't work here.
_________________
Senior Manager
Status: Current Student
Joined: 14 Oct 2009
Posts: 371
Schools: Chicago Booth 2013, Ross, Duke , Kellogg , Stanford, Haas
Followers: 13

Kudos [?]: 106 [0], given: 53

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23 Sep 2010, 13:28
Jerz wrote:
Unfortunately, getting accepted is not a random event (every candidate does not have an equally likely chance of admittance) so probability theory doesn't work here.

I know, just for fun...it's in the disclaimer. And that's not really unfortunate, otherwise you would have a lot of unqualified people in there
_________________
Current Student
Joined: 07 May 2010
Posts: 731
Followers: 14

Kudos [?]: 87 [0], given: 66

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23 Sep 2010, 13:45
Also almost all those numbers are old, Duke is down to 24% (Adcom said so at an info session)
Fun stuff though, I wish it were that simple!
one more school and you'd be a lock!
_________________
Current Student
Joined: 12 Jun 2009
Posts: 1847
Location: United States (NC)
Concentration: Strategy, Finance
Schools: UNC (Kenan-Flagler) - Class of 2013
GMAT 1: 720 Q49 V39
WE: Programming (Computer Software)
Followers: 22

Kudos [?]: 232 [0], given: 52

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23 Sep 2010, 16:15
i need this!!!!!! kudos
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Manager
Joined: 17 Aug 2009
Posts: 222
Followers: 3

Kudos [?]: 16 [0], given: 18

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24 Sep 2010, 08:55
Ha Ha..Good one !
It echos my sentiments as well
Moderator
Status: battlecruiser, operational...
Joined: 25 Apr 2010
Posts: 983
Schools: Carey '16
GMAT 1: Q V
Followers: 12

Kudos [?]: 137 [0], given: 71

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24 Sep 2010, 09:40
dokiyoki wrote:
Ha Ha..Good one !
It echos my sentiments as well

that's a good thing. It's essential that you walk into the GMAT with a good frame of mind.
_________________
Manager
Joined: 06 Nov 2009
Posts: 177
Concentration: Finance, Strategy
Followers: 1

Kudos [?]: 8 [0], given: 3

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10 Oct 2010, 02:01
Congrats to your excellent score. I guess the acceptance rates are highly correlated between schools on the same level. Therefore if you get accepted by one school , then you have a high probability that you also get accepted by the other schools.
Re: Probability of Getting into Business School   [#permalink] 10 Oct 2010, 02:01
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