document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1115952>Question 1115952</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Based on past data, approximately 30% of the oil wells drilled in areas having a certain<BR>\n" );
document.write( "favorable geological formation have struck oil. A company has identified 5 locations that<BR>\n" );
document.write( "possess this information. Assuming that the chance of striking oil on any location is<BR>\n" );
document.write( "independent of any others, calculate the probability that exactly 2 of the 5 wells strike oil.<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #730793 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=730793\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Based on past data, approximately 30% of the oil wells drilled in areas having a certainfavorable geological formation have struck oil. A company has identified 5 locations that possess this information. Assuming that the chance of striking oil on any location is independent of any others, calculate the probability that exactly 2 of the 5 wells strike oil.<BR>\n" );
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document.write( "Binomial Problem with n = 5 and p = 0.3<BR>\n" );
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document.write( "Ans:: P(x = 2) = 5C2*0.3^2*0.7^3 = binompdf(5,0.3,2) = 0.3087<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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