SOLUTION: An oil company estimates that only 1 well in 25 will yield commercial quantities of oil. Assume that successful drilled wells represent independent events. If 5 wells are drilled,
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Question 1204065: An oil company estimates that only 1 well in 25 will yield commercial quantities of oil. Assume that successful drilled wells represent independent events. If 5 wells are drilled, find the probability of obtaining a commercially successful well for the following number of times. (Round your answer to six decimal places.)
exactly 2
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An oil company estimates that only 1 well in 25 will yield commercial quantities of oil.
Assume that successful drilled wells represent independent events.
If 5 wells are drilled, find the probability of obtaining a commercially successful well
for the following number of times. (Round your answer to six decimal places.)
exactly 2
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It is a typical binomial distribution probability problem.
The number of trials is n= 5.
The probability of each individual trial success is p= = 0.04.
The number of successful trials is 2 of 25.
Use the standard formula for probability
P = = = 0.187707 (rounded). ANSWER
