An MBA director has decided to improve the profile of her program by admitting only the finest students.After an exhaustive search on the internet, she learns that combined GMAT scores average 550 with a standard deviation of 130.
(a)What cutoff score should she establish if she wants to consider only applicants scoring in the top 5%?
(b)If she uses 700 as her minimum score, what percentile can she claim for her incoming class' performance on the GMAT?
(c)If 1000 test takers apply, would she expect to find more students with scores in the range of 500 to 600 or in the range of 50 to 450? (Assume that applicants can actually score a 50 on the GMAT.)

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The Answer of An MBA director has decided to improve the profile of her program by admitting only the finest students.After an exhaustive search on the internet, she learns that combined GMAT scores average 550 with a standard deviation of 130.
(a)What cutoff score should she establish if she wants to consider only applicants scoring in the top 5%?
(b)If she uses 700 as her minimum score, what percentile can she claim for her incoming class' performance on the GMAT?
(c)If 1000 test takers apply, would she expect to find more students with scores in the range of 500 to 600 or in the range of 50 to 450? (Assume that applicants can actually score a 50 on the GMAT.)

An MBA Director Has Decided to Improve the Profile of Her