select the correct answer. only 21% of the ca...
select the correct answer. only 21% of the candidates who apply for an mba program in a university are called for an interview, and only 5% of those who are called for an interview are offered admission. if the name of a candidate is picked at random from the list of all applicants, what is the probability that the candidate will finally be offered admission? a. 11.11% b. 15.11% c. 1.05% d. 1.01% e. 10.01%
Answer
# Answer:
C. 1.05%
# Explanation:
## Step1: Define the probabilities
Let $P(I)$ be the probability of being called for an interview and $P(A|I)$ be the probability of being admitted given an interview. $P(I)=0.21$ and $P(A|I) = 0.05$.
## Step2: Use the multiplication rule of probability
The probability of being admitted $P(A)$ is given by $P(A)=P(I)\times P(A|I)$.
## Step3: Calculate the result
$P(A)=0.21\times0.05 = 0.0105=1.05\%$