In a sample survey of a village, the probability that a farmer is in debt is 0.60 . What is the probability that three randomly selected farmers are all in debt (assume independence of events)?

Step-by-step solution

Let P(D) be the probability that a farmer is in debt. P(D) = 0.60 Since the selection of farmers is independent, the probability that all three randomly selected farmers are in debt is given by: P(D₁ D₂ D₃) = P(D₁) P(D₂) P(D₃) = 0.60 0.60 0.60 = 0.216 Answer: 0.216