I've met several of these students. It's like an MBA, but less social networking and more math. (And can be done co-term or in a year)

So does it add some value to someone who is already getting a bachelors in EE, CS or similar? Sure.

Would I put a history major with an MS&E degree in charge of anything significant? Probably not.

I suspect that the admissions rate of 7% is independent of coterms.