What is the probability that three randomly selected

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What is the probability a randomly selected 30-year-old in 1970 earned more than their parents at age 30?

In 1970, 92% of American 30-year-olds earned more than their parents did at age 30 (adjusted for inflation). In 2014, only 51% of American 30-year-olds earned more than their parents did at age 30. 

  1. What is the probability that three randomly selected 30-year-olds in 1970 earned more than their parents at age 30?
  2. What is the probability that out of eight randomly selected 30-year-olds in 1970, at least one did not earn more than their parents at age 30?
  3. What is the probability that out of eight randomly selected 30-year-olds in 2014, at least one did not earn more than their parents at age 30?

Reference no: EM132851966

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