Scheduled for more information

Reference no: EM131820813

A drilling company has estimated a 40% chance of striking oil for their new well. A detailed test has been scheduled for more information. Historically,60% of successful wells have had detailed tests, and 20% of unsuccessful wells have had detailed tests. Given that this well has been scheduled for a detailed test, what is the probability that the well will be successful?

Reference no: EM131820813

Questions Cloud

Non discounted profitability criteria for the project : Draw a cumulative (non discounted) after tax cash flow diagram. calculate the following non discounted profitability criteria for the project i.

Partial probability distribution for the mra company : The following table is a partial probability distribution for the MRA Company's projected profits (x profit in $1000s) for the first year of operation

Discuss the cost of goods sold under fifo and lifo : Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost

What are SpaceTel productivity and productivity without STL : Productivity In early 20X1, SpaceTel Communications, a U.S.-based international telephone communications company, purchased the controlling interest in Sofia.

Scheduled for more information : A drilling company has estimated a 40% chance of striking oil for their new well. A detailed test has been scheduled for more information.

How do you solve for and what is the variance stock : There are two stocks in the market, Stock A and Stock B . The price of Stock A today is $79. How do you solve for and what is the variance Stock A?

Concealed weapons result in a reduced crime rate : Do state laws that allow private citizens to carry concealed weapons result in a reduced crime rate? The author of a study carried out by the Brookings

Draw budget constraint facing any worker under new program : Draw the budget constraint facing any worker under the proposed new program. Which of the four workers do you expect to work more under the new program?

Compute a measure of labor productivity : Compute a measure of labor productivity for 20X3 based entirely on physical measures. Do the same for 20X1. That is, from the data given, choose measures.

User Account

All Pages