D An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities.P(high-quality oil) = 0.40P(medium-quality oil) = 0.25P(no oil) = 0.35a. What is the probability of finding oil (to 2 decimals)?b. After 200 feet of drilling on the first well, a soil test is taken. The probabilities of finding the particular type of soil identified by the test are given below.P(soil|high-quality oil) = 0.25P(soil|medium-quality oil) = 0.90P(soil|no oil) = 0.25%3DGiven the soil found in the test, use Bayes' theorem to compute the following revised probabilities (to 4 decimals).P(high-quality oil|soil)P(medium-quality oil soil)P(no oil soil)What is the new probability of finding oil (to 4 decimals)?According to the revised probabilities, what is the quality of oil that is most likely to be found?- Select your answer -

Answer: From the given data, a) P(finding oil)=P(high quality oil)+P(medium quality oil)= =…

Answered: a. What is the probability of finding…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Similar questions

The mean score for Scrabble players at the neighborhood center is m = 215 points. The players read a book that claims it can raise scores significantly. After reading the book, a team of 25 players obtains a score of M = 218 points, with s= 25. Do the data indicate that reading the book leads to increases in the players’ scores? Test with a = .05 Calculate and evaluate Cohen’s d and r2. What decision can you make and what does it indicate? What type of error could you be making and what would that mean? Report your results with an APA-style phrase.
Using the information obtained above, complete the following:
Two samples are given. Find each sample's a) standard deviation and b) coefficient of variation. Then decide c) which sample has the higher dispersion, and d) which sample has the higher relative dispersion. A: 3, 7, 9, 7, 5 B: 10, 9, 4, 8, 3, 11, 7 D a) What are the sample standard deviations? SA (Do not round until the final answer. Then round to the nearest hundredth as needed.) Sg = (Do not round until the final answer. Then round to the nearest hundredth as needed.)
d. There is a 30% chance that X is above what value? X= (Type an integer or decimal rounded to two decimal places as needed.)
You want to find the probability of getting a z score less than or equal to 1.2. Which distribution would be the best for calculating this probablity
I have provided the answer. Please explain the answer.I
Using the data attached, compute x-bar: 1. Define the random variable x-bar in words 2. state the estimated distribution to use. Use both words and symbols.
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Find the indicated probability and interpret the result. From 1975 through 2020, the mean annual gain of the Dow Jones Industrial Average was 651. A random sample of 32 years is selected from this population. What is the probability that the mean gain for the sample was between 400 and 700? Assume o = 1540. The probability is (Round to four decimal places as needed.)
B Choosing a topic Sk.. For data that is not normally distributed we can't use z-scores. However, there is an equation that works on any distribution. It's called Chebyshev's formula. The formula 1 where p is the minimum percentage of scores that fall within k k2 is p = 1 - standard deviations on both sides of the mean. Use this formula to answer the following questions. a) If you have scores and you don't know if they are normally distributed, find the minimum percentage of scores that fall within 2.2 standard deviations on both sides of the mean? b) If you have scores that are normally distributed, find the percentage of scores that fall within 2.2 standard deviations on both sides of the mean? c) If you have scores and you don't know if they are normally distributed, how many standard deviations on both sides of the mean do we need to go to have 64 percent of the scores? Note: To answer part c you will need to solve the equation for k.

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