Question 1115952
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.
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Binomial Problem with n = 5 and p = 0.3
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Ans:: P(x = 2) = 5C2*0.3^2*0.7^3 = binompdf(5,0.3,2) = 0.3087
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Cheers,
Stan H.
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