There are 540
identical plastic chips numbered 1
through 540
in a box.
What is the probability of reaching into the box and randomly drawing the chip numbered 505
? Express your answer as a simplified fraction or a decimal rounded to four decimal places.
Since there are 540 identical chips in the box and only 1 of them is numbered 505, the probability of randomly drawing the chip numbered 505 is:
1/540 ≈ 0.0019
Therefore, the probability of reaching into the box and randomly drawing the chip numbered 505 is 0.0019 or approximately 0.19%.