Assignment:
U.S. News & World Report's ranking of America's best graduate schools of business showed Harvard University and Stanford University in a tie for first place. In addition, 7 of the top 10 graduate schools of business showed students with an average undergraduate grade point average (CPA) of 3.50 or higher (America's Best Graduate Schools. 2009 Edition. U.S. News & World Report). Suppose that we randomly select 2 of the top 10 graduate schools of business.
a. What is the probability that exactly one school has students with an average under-graduate GPA of 3.50 or higher?
b. What is the probability that both schools have students with an average under-graduate GPA of 3.50 or higher?
c. What is the probability that neither school has students with an average under-graduate GPA of 3.50 or higher?
Provide complete and step by step solution for the question and show calculations and use formulas.