User Account

All Pages

Probability that there is indeed oil in the ground

Assignment Help Basic Statistics
Reference no: EM13960198

An oil executive has determined that the probability that this oil field contains oil is 0.6. Before starting the drilling she decides to order a seismological test to see if there is oil in the ground. Unfortunately, the test is not entirely accurate. It concludes that there is oil with probability 0.9 if there is indeed oil in the ground. If there is no oil in the ground, it concludes so with probability 0.8. Suppose the test result come back positive (i.e., the test says there is oil in the ground). What is the probability that there is indeed oil in the ground given this test result?

Reference no: EM13960198

Questions Cloud

What are the components of a common marketing plan : What are the components of a common marketing plan? Why is it important to have a strategic marketing plan? How does the type of product or service affect the marketing strategy? Provide an example.
The accounts in the ledger of rapid delivery service : The accounts in the ledger of Rapid Delivery Service contain the following balances on July 31, 2017. Prepare a trial balance.
Write a paragraph explaining why in the calculation : Write a paragraph explaining why, in the calculation of a company's EVA, non interest-bearing current liabilities are subtracted from total assets to determine investment.
How does attribution theory apply to reducing stigma : What role does a sociocultural model of psychopathology have in the context of the study? Explain. How does attribution theory apply to reducing stigma and increasing employment?
Probability that there is indeed oil in the ground : An oil executive has determined that the probability that this oil field contains oil is 0.6. Before starting the drilling she decides to order a seismological test to see if there is oil in the ground.
Forecast is more accurate using the concept of mape : The Cabondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows: Which forecast is more accurate using the..
Briefly about companies global business and global strategy : Astrazeneca is one of the biggest pharmaceutical companies in the world and it spreaded out in many countries through its manufacturing and other services. Describe briefly about the companies global business and global strategy.
Beale management has a noncontributory : Beale Management has a noncontributory, defined benefit pension plan. The company provided the following information regarding its pension accounts for the fiscal year ended on December 31, 2015.
Compute the probability that the system is functioning : Consider the k-out-of-n system (info on the system: A system consists of n independent components. Each component functions with probability p. The system as a whole functions if at least k components are functioning (1

Reviews

Write a Review

Basic Statistics Questions & Answers

  Probability of occurance

A person purchases a package of 10 ball-point pens which, unknown to the purchaser, contains 4 defective pens. Of the first 2 pens used by the purchaser

  Population of scores making normal distribution

A population of scores forms a normal distribution with a mean of μ = 40 and a standard deviation of σ =12.

  Which is the proper apporach to comparing salary equality

Based on our sample, how do you interpret the results and what do these results suggest about the population means for male and female average salaries?

  Based on available information lead time demand for cd rom

based on available information lead time demand for cd rom drives averages 250 units normally distributed with a

  Determine the area under the standard normal curve in parts

determine the area under the standard normal curve in parts a through c below. find the area under the normal curve to

  In a study it was found that the average age of cable tv

in a study it was found that the average age of cable tv shoppers was 48 years. suppose you want to test the null

  When circuit boards used in the manufacture of compact disc

when circuit boards used in the manufacture of compact disc players are tested the long-run percentage of defectives is

  Probability of the event

The results of a survey for an airline are shown below. Use the chart to find the probability that the traveler was

  Suppose a random sample of 20 us adults is taken what is

in a study by peter d. hart research associates for the nasdaq stock market it was determined that 20 of all stock

  Conducting graph to represent group differences

Carryout the ANOVA and, if essential, post-hoc comparisons. Conduct a graph to represent group differences, and interpret ANOVA in a paragraph written in APA style.

  Independent normally distributed random variables

X, Y, and Z are independent normally distributed random variables. The following information is known about these three variables:

  Your score on a statistics tests is 63 and on your biology

your score on a statistics tests is 63 and on your biology test you made a 23. the mean in statistics was 60 with a

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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