The Striket Riche Company has begun drilling for oil. It anticipates 130 hour of drilling time before reaching the oil. Experience has shown that the drill bits it uses in this type of rock formation have a lifetime that is lognormal with tmed = 2 hr and s=0.91. The company currently has 35 drill bits available. What is the probability of striking oil before it runs out of bits?

The Striket Riche Company has begun drilling for oil. It anticipates 130 hour of drilling time before reaching the oil. Experience has shown that the drill bits it uses in this type of rock formation have a lifetime that is lognormal with tmed = 2 hr and s=0.91. The company currently has 35 drill bits available. What is the probability of striking oil before it runs out of bits?

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...

See similar textbooks

Similar questions

Determine whether the following scenarios are linear or exponential. As summer approaches, I noticed that for every increase in 5 degrees, the number of people I see at the pool increases by about 3. The amount of Francium,a radioactive element, decays by about 3.1% every minute. The number of flu cases increases by about 1.6% per month during flu season. Based on Mrs. Olivet's Test 4 results, students tended to score about 4 more points on their test for every hour they studied. The percentage of the population that has been vaccinated for COVID-19 increased by about 0.25 percentage points every day in January. The population of bugs in Monica's walls decreased by 80% every week while the exterminator was treating her home. During a rainstorm the reading from the rain gauge increased by a quarter inch every hour. Selene didn't want her parents to notice she was stealing candy from the jar, so every day she only ate 1/8 of what was left. While writing an essay, Carson writes 7…
A fish population starts at 15000. The (annual) birth rate is 0.4; the (annual) death rate is 0.3. In addition, 1500 fish are stocked each year, and 2000 are caught and removed from the population each year. Determine the size of the population after 1 year and 2 years Answer to the nearest 1.
Lise Meitner bombarded 300 uranium atoms with a stream of neutrons for 10 seconds each. She recorded the energy released when the uranium atom was split. What is the sample of this study?
an epidemic starts when 4 people are infected with deadly virus. If the population of infected individuals grows at a constant rate of 28% per week, how many people will be infected after 8 weeks.
An assortment of 100 fish is put into a fish tank; the fish population grows at a continuous rate of 23% per hour. How long until the population doubles in size? (round to the nearest fish)