[stupac2]

1% chance X 2 of getting into Princeton or Yale off the wait list.

I can't help myself, but if we assume these are independent processes with a 1% chance of success, you actually have a 1-.99^2 or 1.99% chance of getting into one or both. Marginal difference here, but that's how the probability works! Anyway, good luck, I can't really imagine how nerve-wracking this must be from a Stanford alum's perspective.

[stupac2]

1% chance X 2 of getting into Princeton or Yale off the wait list.

I can't help myself, but if we assume these are independent processes with a 1% chance of success, you actually have a 1-.99^2 or 1.99% chance of getting into one or both. Marginal difference here, but that's how the probability works! Anyway, good luck, I can't really imagine how nerve-wracking this must be from a Stanford alum's perspective.