Question: A computer manufacturing company conducts acceptance sampling for incoming computer chips. After receiving a huge shipment of computer chips, the company randomly selects 800 chips.

A computer manufacturing company conducts acceptance sampling for incoming computer chips. After receiving a huge shipment of computer chips, the company randomly selects 800 chips. If three or fewer nonconforming chips are found, the entire lot is accepted without inspecting the remaining chips in the lot. If four or more chips are nonconforming, every chip in the entire lot is carefully inspected at the supplier's expense. Assume that the true proportion of nonconforming computer chips being supplied is 0.001. What is the probability the lot will be accepted

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