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

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

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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?
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