Since you are replacing the chip, each new event is the same all over again.
Even though you don't say so, I will assume you are picking the chip 3 times.
so it would of course be (4/7)(4/7)(4/7)
If a box contains 4 red poker chips and 3 blue. What is the probability that all 3 will be red if we randomly select each chip with replacement?
Woould it be 4/7*4/7*4/7 because there are 4 red or would it 3/7* 3/7*3/7 because they only want 3 of the 4?
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