oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities. P(high-quality oil) = .50 P(medium-quality oil) = .20 P(no oil) = .30 What is the probability of finding oil (to 1 decimal)? .7 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 follow. P(soil | high-quality oil) = .20 P(soil | medium-quality oil) = .80 P(soil | no oil) = .20 Given the soil found in the test, use Bayes' theorem to compute the following revised probabilities (to 2 decimals). P(high-quality oil | soil) .50 P(medium-quality oil | soil) .80 P(no oil | soil) .20 What is the new probability of finding oil (to 2 decimals)? What quality oil is most likely to be found, according to the revised probabilities? Select

oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities. P(high-quality oil) = .50 P(medium-quality oil) = .20 P(no oil) = .30 What is the probability of finding oil (to 1 decimal)? .7 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 follow. P(soil | high-quality oil) = .20 P(soil | medium-quality oil) = .80 P(soil | no oil) = .20 Given the soil found in the test, use Bayes' theorem to compute the following revised probabilities (to 2 decimals). P(high-quality oil | soil) .50 P(medium-quality oil | soil) .80 P(no oil | soil) .20 What is the new probability of finding oil (to 2 decimals)? What quality oil is most likely to be found, according to the revised probabilities? Select

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section11.8: Probabilities Of Disjoint And Overlapping Events

Problem 2C

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