Answer to Question #252453 in Statistics and Probability for Zuu

Question

A questionnaire asks shareholders of a company to state whether they consider the chairman’s salary to be too high, about right, or too low. Excluding shareholders who have no opinions, the probabilities of answers from random selected shareholders are as follows:

Too high 0.82

About right 0.12

Too low. 0.05

Answer 1

What are the probabilities that if three shareholders are selected at random, that they will all answer, too high?

$P=(P(Too\ high))^3=0.82^3=0.5514$