"17-12-04 Jamaica has found signs of oil in 10 exploratory wells drilled into deepunderground structures. Now it's come to Houston looking for oil companies willingto help the island nation, which depends heavily on tourism, bauxite and alumina, tobecome the world's next oil and natural gas producer. Hopeful Jamaican officialstraveled to Houston promoting the nation's first formal license round, offering 22offshore blocks and four onshore blocks. "There are plenty of reserves yet to be foundexploration in new frontiers is now warranted," said Raymond Wright of thePetroleum Corporation of Jamaica, reflecting on the world's supply dilemma.Oil explorers order seismic tests to determine whether oil is likely to be foundin a certain drilling area. These seismic tests have a known reliability: When oilexists, khe tests indicate so 85% of the time and when oil does not exist the tests willerroneously indicate that it exists 10% of the time. The explorer believes that there isa 40% chance oil exists in the test area. If a test is conducted and indicates thepresence of oil, what is the probability that oil really exists?

Let us define the events as, O: Oil exits in test area T: Tests indicates positive result. Given:…

Oil explorers order seismic tests to determine whether oil is likely to be found in a certain drilling area. These seismic tests have a known reliability: When oil exists, the tests indicate so 85% of the time and when oil does not exist the tests will erroneously indicate that it exists 10% of the time. The explorer believes that there is a 40% chance oil exists in the test area. If a test is conducted and indicates the presence of oil, what is the probability that oil really exists?

Oil explorers order seismic tests to determine whether oil is likely to be found in a certain drilling area. These seismic tests have a known reliability: When oil exists, the tests indicate so 85% of the time and when oil does not exist the tests will erroneously indicate that it exists 10% of the time. The explorer believes that there is a 40% chance oil exists in the test area. If a test is conducted and indicates the presence of oil, what is the probability that oil really exists?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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