Suggest a group of n (say n > 1000) chips. Each chip in the group can be either good or bad. Suppose that each of the chips is good with probability 2/5.
(a) Determine the probability that the number of good chips is greater than 4 and less than 8.
(b) Determine the expected value of the number of good chips
(c) Four chips are selected at random. Compute the probability that exactly three of the selected chips are bad.