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When an exploratory oil well is drilled, there is a 0.1 probability of finding oil. If two exploratory wells that are drilled in different parts of the country, what is the probability that

(a) oil will be found in both wells,
(b) oil will be found in neither well,
(c) oil will be found in one well?

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a) oil found in both wells is 0.1 X 0.1 = 0.01 or 1%

b) the probability of oil not found in one well is 0.9 (1-0.1), so the prob of neither has oil is 0.9 X 0.9 = 0.81

c) ...

Solution Summary

Probability of finding oil in drilling an exploratory oil well