XYZ Corporation announces its earnings four times per year. Based on historical data, you estimate…

XYZ Corporation announces its earnings four times per year. Based on historical data, you estimate that in any given quarter the probability that XYZ Corporation’s earnings will exceed consensus estimates is 30%. Also, the probability of exceeding the consensus in any one quarter is independent of the outcome in any other quarter. What is the probability that XYZ Corporation will exceed estimates three times in a given year?

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