Question
A national consulting firm has identified a hiring target of a minimum of 8 and a maximum of 10 new associates from this year's MBA
A national consulting firm has identified a hiring target of a minimum of 8 and a maximum of 10 new associates from this year's MBA recruiting class. In previous years, 70% of the firm's offers to MBA recruits were accepted. a. If the firm decides to make 12 offers, what is the expected number that will be accepted? If the firm decides to make 14 offers, what is the expected number that will be accepted? b. If the firm decides to make 12 offers: What is the probability that fewer than 8 offers will be accepted? What is the probability that more than 10 offers will be accepted? c. If the firm decides to make 14 offers: What is the probability that fewer than 8 offers will be accepted? What is the probability that more than 10 offers will be accepted? d. Is the firm more likely to meet its recruiting target by making 12 or 14 offers (assume that the firm won't make any offers after the initial set because top-tier candidates would no longer be available)? Briefly explain.
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