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The driller will go bankrupt if it drills 10 times before

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Reference no: EM13578853

An oil drilling company ventures into various locations, and its success or failure is independent from one location to another. Suppose the probability of a success at any specific location is 0.25.

(a) What is the probability that the driller drills at 10 locations and has 1 success?

(b) The driller will go bankrupt if it drills 10 times before the first success occurs. What are the driller's prospects for bankruptcy?

Reference no: EM13578853

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