Question

Graduates with degrees in management have a 25% chance of getting a job within 1 month of completing their degree. If 200 graduates are selected, what is the probability that at least 60 of them will get a job within 1 month of completing their degree?

A) 0.0025
B) 0.9975
C) 0.9997
D) 0.0003

Answer 1

To find the probability that at least 60 graduates will get a job within 1 month of completing their degree, you can use the Binomial Distribution formula or a probability calculator or software.

Step-by-step explanation:

To find the probability that at least 60 graduates will get a job, we can use the Binomial Distribution formula:

P(X ≥ k) = 1 - P(X ≤ k-1)

P(X ≥ 60) = 1 - P(X ≤ 59)

Now we need to calculate the probability that less than or equal to 59 graduates will get a job. Assuming the probability of each graduate getting a job is independent and remains constant at 25%, we can calculate the probability using the Binomial Distribution formula:

P(X ≤ k) = C(n,k) * p^k * (1-p)^(n-k)

P(X ≤ 59) = Σ[C(200, i) * 0.25^i * 0.75^(200-i)], for i = 0 to 59

Using a calculator or statistical software, we can calculate this sum to find the probability that at least 60 graduates will get a job within 1 month of completing their degree.

Alternatively, you can use a probability calculator or software to directly calculate the probability that at least 60 graduates out of 200 will get a job with a success probability of 0.25.