One student applies for a doctoral program in Economics. The qualification of the admission depends on GRE score, GPA in his undergraduate and graduate schools, three recommendation letters, and other supportive documentations. Since this is a top program and a top university in the United States, total number of applicants is 750, but this program only admits 25 students every year. Therefore, this student claims that he has 3.3% probability to be admitted. Does this student’s claim make any sense? Why or why not? Discuss and explain your reasons. You must provide your statistical analysis and reasons.

One student applies for a doctoral program in Economics. The qualification of the admission depends on GRE score, GPA in his undergraduate and graduate schools, three recommendation letters, and other supportive documentations. Since this is a top program and a top university in the United States, total number of applicants is 750, but this program only admits 25 students every year. Therefore, this student claims that he has 3.3% probability to be admitted. Does this student’s claim make any sense? Why or why not? Discuss and explain your reasons. You must provide your statistical analysis and reasons.

I know how to solve this with basic math. I am struggling on what actual statistics equation to use. My response has to be 150 words or more and I just dont understand how to statistically analyze this.