Mathematics, 24.12.2020 16:40 ebzloera

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 be successful

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A drilling company has estimated a 40% chance of striking oil for their new well. A detailed test ha...

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