document.write( "Question 1012257: twenty five percent of the engineering graduates of a university received a starting salary of $50,000 or more. if three of the graduates are chosen at random,find the probability that all have a starting salary of $50,000 or more \n" ); document.write( "

Algebra.Com's Answer #628173 by mathmate(429) $\"\"$ $\"About$

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\n" ); document.write( "Question:
\n" ); document.write( "Twenty five percent of the engineering graduates of a university received a starting salary of $50,000 or more. if three of the graduates are chosen at random,find the probability that all have a starting salary of $50,000 or more.
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\n" ); document.write( "Solution:
\n" ); document.write( "Since the size of the engineering graduate population is not given, we have to assume that the population size is infinite (or else the hypergeometric distribution applies).
\n" ); document.write( "We therefore assume that the probability of each graduate has a probability of 25% in having a salary of $50,000 or more.
\n" ); document.write( "For all three to be withing the 25% category, the probabilities have to be multiplied together (multiplication), assuming a random choice of candidates and independence of the choices.
\n" ); document.write( "P(all three have $50000 salary or more)
\n" ); document.write( "= 0.25³ = 0.015625 or 1/64 \n" ); document.write( "

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