2.3.1 What probability distribution function(s) can be used to calculate probability of successfully finding oil for the very first time. ( 2.3.2 What is the probability that the third hole drilled is the first hole to yield a productive well? (^) 2.3.3 What is the expected number of holes that BP will drill until a productive well is found? Interpret your answer

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.3: Binomial Probability
Problem 2E: If a binomial experiment has probability p success, then the probability of failure is...
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BP, a South African oil company will drill a succession of holes in a given area
to find a productive well. The probability that they are successful on a given trial
is 0.6.
2.3.1 What probability distribution function(s) can be used to calculate
probability of successfully finding oil for the very first time. (*
2.3.2 What is the probability that the third hole drilled is the first hole to yield a
productive well? (^)
2.3.3 What is the expected number of holes that BP will drill until a productive
well is found? Interpret your answer
2.4 Explain in your own words and give an example how you would be able to
identify when to use the Poisson probability distribution function to calculate the
probability.
Transcribed Image Text:BP, a South African oil company will drill a succession of holes in a given area to find a productive well. The probability that they are successful on a given trial is 0.6. 2.3.1 What probability distribution function(s) can be used to calculate probability of successfully finding oil for the very first time. (* 2.3.2 What is the probability that the third hole drilled is the first hole to yield a productive well? (^) 2.3.3 What is the expected number of holes that BP will drill until a productive well is found? Interpret your answer 2.4 Explain in your own words and give an example how you would be able to identify when to use the Poisson probability distribution function to calculate the probability.
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