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A graduate admissions committee has finally come to realize that it cannot make valid distinctions among the top applicants. This year the committee rated all 500 applicants and randomly chose 10 from those at or above the 80th percentile. (The 80th percentile is the point at or below which 80 percent of the scores fall.) What is the probability that any particular applicant will be admitted (assuming you have no knowledge of his or her rating)?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91725135

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