Calculate posterior probabilities of some and low reading

Assignment Help Applied Statistics
Reference no: EM13911901

THE OIL DRILLING CASE Of 100 past sites that were drilled and produced no oil, 91 gave a low reading. Of the 400 past sites that were drilled and produced some oil, 16 gave a low reading. Of the 300 past sites that were drilled and produced much oil, 3 gave a low reading. Calculate the posterior probabilities of no, some, and much oil, given a low reading.

Reference no: EM13911901

Questions Cloud

What is the probability that company will run out of units : Now, suppose that the company currently has 180 units in stock, and it will not be receiving any further shipments from its supplier for at least 3 weeks. What is the probability that the company will run out of units
What is the difference between getting energy : 1. What is the difference between getting energy from cellular respiration and getting energy from a log by burning it? 2. Why does the body need to utilize both aerobic and anaerobic respiration?
What is the margin of safety expressed in dollars : If Fama Company, with a The level of business operations at which revenues and expired costs are equal. break-even point at $263,200 of sales, has actual sales of $470,000, what is the margin of safety expressed (1) in dollars and (2) as a percentage..
Coupled system of partial differential equations : coupled system of partial differential equations - Give me detailed calculations of equations from 11 to 27 in step by step manner. It means how to obtain equ.11 to 27 in detailed manner.
Calculate posterior probabilities of some and low reading : Of the 300 past sites that were drilled and produced much oil, 3 gave a low reading. Calculate the posterior probabilities of no, some, and much oil, given a low reading.
A mature ovarian follicle : 1a. An ovum is released by a mature ovarian follicle, but the subsequent corpus luteum does not secrete progesterone. If the ovum is fertilized, is implantation possible? Is a full-term pregnancy possible? Explain.
What value of $202,995 portfolio of your country currency : Based on your analysis and findings, what would you recommend to the American companies doing business in your chosen country? Should American companies doing business in your chosen country hedge their currency risk or not?
Environmental impact of chemical processes : Identify a ‘human-made' chemical process (or series of processes) that has undergone changes in recent times to reduce its environmental impact. Critically examine and comment on the appropriateness of the changes. Suggest other alternatives and w..
Indirect method of determining cost of goods sold : Uxmaiz Corporation had only one job in process during May—Job X32Z—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Using the indirect method, determine the cost of goods sold for May.

Reviews

Write a Review

Applied Statistics Questions & Answers

  What is the outcome of the multivariate tests

Examine the skewness and kurtosis values for each dependent variable, examining the histograms and examine the Shapiro-Wilks' results and What is the outcome of the multivariate tests

  The distribution of the cost of all trips is normal

Suppose the distribution of the cost of all trips is normal with an average of 112 dollars and a standard deviation of 11 dollars. What is the value of the cost that falls of the 7th percentile?

  Evaluate the golfers performance over the two year period

Scores turned in by an amateur golfer at the Bonita Fairways Golf Course in Bonita Springs, Florida, during 2005 and 2006 are as follows: 2005 Season: 74 78 79 77 75 73 75 77 2006 Season: 71 70 75 77 85 80 71 79 a. Use the mean and standard deviation..

  What is the eoq

Complete the following problems and submit the results in either a Microsoft Word document or a Microsoft Excel spreadsheet. If you choose to use an Excel spreadsheet, place each problem on a separate sheet and label the tab with problem number. Save..

  Interpreting basic statistical data

Two laboratory and two randomized field experiments tested a psychological intervention designed to improve students' scores on high-stakes exams and to increase our understanding of why pressure-filled exam situations undermine some students' per..

  Describe four patterns typically found in time series data

Describe the four patterns typically found in time series data. What is meant by the expression "decomposition" with regard to forecasting? Briefly describe the process.

  Suppose x and y are continuous random variables

Suppose X and Y are continuous random variables with joint pdf given by f(x, y) = 24xy if 0 2X].

  What is the lower and upper limit

A sample of 9 managers with over 15 years of experience has an average salary of $71,000 and a sample standard deviation of $18,000. Assuming that the salaries of managers with over 15 years experience are normally distributed, you can be 95% confide..

  The variance of each of the following sets of scores

The variance of each of the following sets of scores

  Jessica will have won more games than susan

When Susan and Jessica play a card game, susan wins 60% of the time. if they play 9 games, what is the probability that jessica will have won more games than susan?

  A random sample frm a population with mean and std dev produ

A random sample frm a population with mean and std dev produced the following sample info: n=110 x=699 s=20.4 given xbar = 699 1.  find the 95% confidence interval fr the mean u and interpret the resulting interval. 2.  find the 99% confidence interv..

  Random variables and a and b are constants

Looking for some help with this question... topic: econometrics/stats. Thanks! Suppose the Y = a + bX +U, where X and U are random variables and a and b are constants. Assume that E[U|X] = 0 and that Var[U|X) = X2

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd