To find the probability that all 5 selected graduates had a starting salary of $50,000 or more, we can use the concept of independent events.
Given that 35% of the physics graduates received a starting salary of $50,000 or more, this implies that the probability of any one graduate having a starting salary of $50,000 or more is 0.35.
Since the selection of each graduate is independent, the probability of all 5 selected graduates having a starting salary of $50,000 or more can be calculated by multiplying the probability of each individual event.
Therefore, the probability of each selected graduate having a starting salary of $50,000 or more is 0.35. Since there are 5 graduates being selected, we can multiply this probability by itself five times:
Probability of all 5 graduates having a starting salary of $50,000 or more = (0.35) * (0.35) * (0.35) * (0.35) * (0.35) ≈ 0.01358
So, the probability that all 5 selected graduates had a starting salary of $50,000 or more is approximately 0.01358 (or 1.36%).