Question: A corporate executive officer is attempting to arrange a meeting of his three vice presidents for tomorrow morning. He believes that each of these three busy individuals, independently of the others, has about a 60% chance of being able to attend the meeting.

a) What is the probability that none of the three vice presidents can attend the meeting?

b) If the meeting will be held tomorrow morning only if everyone can attend, what is the probability that the meeting will take place at that time?

c) How many of the vice presidents should the CEO expect to be available for tomorrow morning’s meeting? [Hint: Apply the concept of expected value.]