In a desperate gamble, Whilcat Oil Exploration has committed all its remaining funds to finance a sequence of 8 drillings. Each drilling in this region has a 30% chance of successfully producing oil, independent of the other drillings. To avoid bankruptcy, three or more drillings must produce oil. What is the chance of this?
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In a desperate gamble, Whilcat Oil Exploration has committed all its remaining funds to finance a sequence of 8 drillings. Each drilling in this region has a 30% chance of successfully producing oil, independent of the other drillings. To avoid bankruptcy, three or more drillings must produce oil. What is the chance of this?
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- A company is trying to decide if they should make a bid on a project that would generate 450,000 in profit. It will cost $100,000 to develop the bid and they will have a 35% chance of winning the contract. What is the expected net profit (project profit less bid development cost) associated with making the bid?Suppose 58.8% of small businesses experience cash flow problems in their first 5 years. A consultant takes a random sample of 557 businesses that have been opened for 5 years or less. What is the probability that greater than 55.85% of the businesses have experienced cash flow problems? Question 2 options: 1) 0.9214 2) 0.5000 3) -6.0341 4) 0.0786 5) >0.999A man buys a racehorse for $25,000 and enters it in two races. He plans to sell the horse afterward, hoping to make a profit. If the horse wins both races, its value will jump to $105,000. If it wins one of the races, it will be worth $65,000. If it loses both races, it will be worth only $10,000. The man believes there is a 30% chance that the horse will win the first race and a 35% chance that it will win the second one. Assuming that the two races are independent events, find the man's expected profit.
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- Becky and Carla take an advanced yoga class. Becky can hold 29% of her poses for over a minute, while Carla can hold 35% of her poses for over a minute. Suppose each yoga student is asked to hold 50 poses. Let B the proportion of poses Becky can hold for over a minute and C = the proportion of poses Carla can hold for over a minute. What is the probability that Becky's proportion of poses held for over a minute is greater than Carla's? Find the z-table here. O 0.159 O 0,259 0 0.448 O 0,741 Save and Exit Next Submit Math and rem 96 & 7 8 9. 10In the last week of the semester, Stéphane decides to “reward” the students by no longer limiting himself to 4 exercises and instead assigning every activity he writes. If a student with a 60% chance of correctly answering an exercise is expected to answer three correctly, what is the probability that Stéphane did not have a visitor that week?If Johnny plays Russian Roulette twice, by spinning a revolver containing one bullet in one of the six chambers between each shot, what is the probability he doesn't shoot himself either time?