Suppose that a computer chip company has just shipped 5,000 computer chips to a computer company. Unfortunately, 50 of the chips are defective. (a) Compute the probability that two randomly selected...

Extracted text: Suppose that a computer chip company has just shipped 5,000 computer chips to a computer company. Unfortunately, 50 of the chips are defective. (a) Compute the probability that two randomly selected chips are defective using conditional probability. (b) The probability that the first randomly selected chip is defective is 50 = 0.01 = 1%. Compute the probability that two randomly selected chips are defective under 5,000 the assumption of independent events. (a) The probability is (Round to eight decimal places as needed.)