Posted by SMREY on Sunday, June 3, 2012 at 4:06pm.
of the physics graduates of a university, 35% received a starting salary of $50,000 or more. If 5 of the graduates are selected at random, find the probability that all had a starting salary of $50,000 or more.

statistics  MathMate, Sunday, June 3, 2012 at 8:03pm
Assume that there is an infinite number (or a large number) of physics graduates so that selecting 5 has negligible effect on the pool, then the proportion of wellpaid graduates remains at 35%.
Then the probability for selecting one wellpaid graduate is 0.35, and selecting 5 is 0.35^5=0.0053
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