Q1. An oil company conducts a geological study that indicates that an exploratory oil well should have a 10% chance of s

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

Q1. An oil company conducts a geological study that indicates that an exploratory oil well should have a 10% chance of s

Post by answerhappygod »

Q1 An Oil Company Conducts A Geological Study That Indicates That An Exploratory Oil Well Should Have A 10 Chance Of S 1
Q1 An Oil Company Conducts A Geological Study That Indicates That An Exploratory Oil Well Should Have A 10 Chance Of S 1 (54.04 KiB) Viewed 50 times
Q1. An oil company conducts a geological study that indicates that an exploratory oil well should have a 10% 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 least second well drilled? What is the variance of this distribution? (c) What are the main similarities and dissimilarities of Binomial and Poisson distribution?
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”