- Q1 An Oil Company Conducts A Geological Study That Indicates That An Exploratory Oil Well Should Have A 20 Chance Of S 1 (22.41 KiB) Viewed 75 times
Q1. An oil company conducts a geological study that indicates that an exploratory oil well should have a 20% chance of striking oil. (a) What is the probability that the second strike comes on more than the third well drilled? What is the standard deviation of this distribution? (b) What is the probability that the first strike comes on at most second well drilled? What is the variance of this distribution? (c) What are the main similarities and dissimilarities of Binomial and Negative Binomial distribution? Q2. A random variable X takes values between 2 and 3 with a probability density function 103) 64 C. Os 53 (a) Find the value ofe and sketch the probability density function, hence determine PY-I SX S1) (b) Construct and sketch the cumulative distribution function. (e) Find the first and the second quartile of the random variable X.