Answer:
Therefore, the probability is P=0.343.
Step-by-step explanation:
We know that thirty percent of the CFA candidates have a degree in economics. Therefore, p=0.3.
We conclude that seventy percent of the CFA candidates have not a degree in economics. We get:
[tex]q=1-p\\\\q=1-0.3\\\\q=0.7\\[/tex]
We calculate the probability that none of them has a degree in economics. We get:
[tex]P=q^3\\\\P=0.7^3\\\\P=0.343\\[/tex]
Therefore, the probability is P=0.343.
