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Question: In Problem, calculate the probability that the test is positive and a dome structure exists [P(+ and Dome)]. Now calculate the probability of a positive result, a dome structure, and a dry hole [P(+ and Dome and Dry)]. Finally, calculate P(Dome | + and Dry).
Problem: In the oil-wildcatting problem, suppose that the company could collect information from a drilling core sample and analyze it to determine whether a dome structure exists at Site 1. A positive result would indicate the presence of a dome, and a negative result would indicate the absence of a dome. The test is not perfect, however. The test is highly accurate for detecting a dome; if there is a dome, the test shows a positive result 99% of the time. On the other hand, if there is no dome, the probability of a negative result is only 0.85. Thus, P(+ | Dome) = 0.99 and P(- | No Dome) = 0.85. Use these probabilities, the information given in the example, and Bayes' theorem to find the posterior probabilities P(Dome | +) and P(Dome | -). If the test gives a positive result, which site should be selected? Calculate expected values to support your conclusion. If the test result is negative, which site should be chosen? Again, calculate expected values.
A Pitot tube (Figure) is used to determine the airspeed of an airplane. It consists of an outer tube with a number of small holes B (four are shown) that allow air into the tube; that tube is connected to one arm of a U-tube.
What are the minimum, maximum and expected values for the total - Calculate the mean and standard deviation for your month and Draw a second graph showing both your month and the following month.
Prove that the price of an American option implied by a tree will always be as much as the price of a European option with the same parameters priced on the same tree.
What is the total degrees of freedom? Explain how you obtain your answer. What is the among-group (between-group) mean squares? Explain how you obtain your answer.
Which of the following statements or formulas is correct about conditional probabilities?
In a survey of 125 dancers, 73 knew the ballroom dances, 62 knew the Latin dances, and 49 knew the swing dances. Of these, 23 knew the ballroom and swing dances, 35 knew the ballroom and Latin dances, and 29 knew the Latin and swing dances. Twelve da..
The probability that a single carrier sent on a six-month mission will not require replacement of the module during that time.
Your boss has just presented you with the summary in the accompanying table of projected costs and annual receipts for a new product line.
Consider the weight and blood pressure data in Problem. Fit a no-intercept model to the data and compare it to the model obtained in Problem.
Lipton's solution to the generalized SAT problem assumes that the problem is represented in the restricted form: C1 ? C2 ? ... ? Cm, known as the conjunctive.
How many relations on A are both symmetric and antisymmetric?
DixieNet is an Internet service provider for residential customers in a southern state. The company is small now but plans to expand. Its first major goal is to establish a set of hubs throughout the state so that all residents of the state can ac..
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