Need help with Probability and statistic questions

timer Asked: Oct 15th, 2015

Question description

Company geologists have identified potential independent drilling sights, and have estimated that each has a probability of 60% of yielding a profitable oil well. Drilling must be started before the nature of a well can be determined. The company wants to identify exactly 4 profitable wells.

a) What is the expected number of wells that must be started to identify exactly 4wells?

b)If drilling is started on 10 sights,what is the probability that fewer than 4 profitable wells will be identified?

c)What is the probability that 8 wells will need to be started to identify exactly 4 profitable wells?

d)What is the probability that the first 4 wells started will identify 4 profitable well?

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