Probability calculation
Not what you're looking for?
An oil co. is drilling some wells. the results are described as either a dry well or a producer well. Past experience suggests that 10% of exploratory wells are producer wells. If the company drills 12 wells, what is the probability that all 12 wells are producer wells?
What is the probability that all 12 wells are dry wells?
What is the probability distribution for the number of dry wells?
Purchase this Solution
Solution Summary
The solution provides step by step method for the calculation of probability based on binomial distribution . Formula for the calculation and Interpretations of the results are also included.
Purchase this Solution
Free BrainMass Quizzes
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.