Mathematics, 25.02.2020 17:59 Jbutler15
After 200 feet of drilling on the first well, a soil test is taken. The probabilities of finding the particular type of soil identified by the test are as follows.
P(soil | high-quality oil) = 0.20 P(soil | medium-quality oil) =0.80 P(soil | no oil) = 0.20
How should the firm interpret the soil test? What are the revised probabilities?
Events P(Ai) P(S | Ai) P(Ai∩S) P(AiS)
High Quality (A1)
Medium Quality (A2)
No Oil (A3) P(S)=
What is the new probability of finding oil?
Answers: 1
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After 200 feet of drilling on the first well, a soil test is taken. The probabilities of finding the...
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