Joe Is Considering Pursuing an MBA Degree

Multiple Choice

Joe is considering pursuing an MBA degree. He has applied to two different universities. The acceptance rate for applicants with similar qualifications is 25 percent for University A and 40 percent for University B. What is the probability that Joe will be accepted at one, and only one, university?

A) 0.50
B) 0.10
C) 0.15
D) 0.30
E) 0.45