.
Use the Binomial Probability formula
Probability (P) (k successes in n trials) = nCk * p^k * (1-p)^(n-k), where nCk = n! / (k! * (n-k)!)
For this problem, n = 7, k = 3, p = 0.25.
P(exactly three will have a bachelor's degree or higher) =
=
= 0.1730 = 17.3%. ANSWER
Solved.