1. An oil company conducts a geological study that indicates
that an exploratory oil well should have a 25% chance of striking
oil.
Part (a): What is the probability that the first strike comes on
the third well drilled?
Part (b): What is the probability that the third strike comes on
the seventh well drilled?
Part (c): What is the mean of the number of wells that must be
drilled if the oil company wants to set up three producing
wells?
Part (d): What is the variance of the number of wells that must be
drilled if the oil company wants to set up three producing
wells?
2. An oil company conducts a geological study that indicates
that an exploratory oil well should have a 30% chance of striking
oil.
Part (a): What is the probability that the third strike comes on
the seventh well drilled?
Part (b): What is the mean of the number of wells that must be
drilled if the oil company wants to set up three producing
wells?
Part (c): What is the variance of the number of wells that must be
drilled if the oil company wants to set up three producing
wells?
1(a)
Let X is a random variable shows the number of well drilled till first strike. Here X has geometric distribution with parameter p = 0.25. The probability that the first strike comes on the third well drilled is
Answer: 0.1406
(b)
Let X is a random variable shows the number of well drilled till third strike. Here X has negative binomial distribution with parameters r=3 and p = 0.25. The probability that the third strike comes on the seventh well drilled is
Answer: 0.0746
(c)
Using distribution of part b:
Answer: 12
(d)
Using distribution of part b:
Answer: 9
1. An oil company conducts a geological study that indicates that an exploratory oil well should...
Problem S. An oil company conducts a geological study that indicates that an exploratory oil well should have a 25% chance of striking oil. Assume that chances of striking oil between wells are independent (a) What is the probability that the first strike comes on the third well drilled? (b) What is the probability that the third strike comes on the fifth well drilled? (c) What is the mean and variance of the number of wells that must be drilled...
1. An oil compan y conducts a geological study that indicates that an exploratory oil 0% chance of striking oil (sequentially, what is the probability second strike comes on the third well drilled? What is the probability that well should have a 2 that the the third strike comes on the seventh well drilled? selected at random without replacement, what is the probability that there is no fuse is defective? 2. Suppose that a fuse box containing 17 fuses of...
PLEASE SHOW ALL WORK Examples An oil company conducts a geological study that indicates that an exploratory oil well should have a 20% chance of striking oil. What is the probability that the third strike comes on the seventh well drilled?
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An oil company estimates that only 1 well in 15 will yield commercial quantities of oil. Assume that successful drilled wells represent independent events. If 11 wells are drilled, find the probability of obtaining a commercially successful well for the following number of times: exactly 2 (Round your answer to six decimal places.)
An oil company estimates that only 1 well in 15 will yield commercial quantities of oil. Assume that successful drilled wells represent independent events. If 11 wells are drilled, find the probability of obtaining a commercially successful well for the following number of times (Round your answer to six decimal places.) :exactly 2
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