What is the probability that none of meals will exceed cost

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Reference no: EM131455634

Question: The Zagat Restaurant Survey provides food. decor, and service ratings for some of the top restaurants across the United States. For 15 restaurants located in Boston, the average price of a dinner, including one drink and tip, was $48.60. You are leaving for a business trip to Boston and will eat dinner at three of these restaurants. Your company will reimburse you fora maximum of $50 per dinner. Business associates familiar with these restaurants have told you that the meal cost at one-third of these restaurants will exceed $50. Suppose that you randomly select three of these restaurants for dinner.

a. What is the probability that none of the meals will exceed the cost covered by your company?

b. What is the probability that one of the meals will exceed the cost covered by your company?

c. What is the probability that two of the meals will exceed the cost covered by your company?

d. What is the probability that all three of the meals will exceed the cost covered by your company?

Reference no: EM131455634

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