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Oil wells. How much oil the wells in a given ?eld will ultimately produce is key information in deciding whether to drill more wells. Here are the estimated total amounts of oil recovered from 64 wells in the Devonian Richmond Dolomite area of the Michigan basin, in thousands of barrels:22

21.7

53.2

46.4

42.7

50.4

97.7

103.1

51.9

43.4

69.5

156.5

34.6

37.9

12.9

2.5

31.4

79.5

26.9

18.5

14.7

32.9

196.0

24.9

118.2

82.2

35.1

47.6

54.2

63.1

69.8

57.4

65.6

56.4

49.4

44.9

34.6

92.2

37.0

58.8

21.3

36.6

64.9

14.8

17.6

29.1

61.4

38.6

32.5

12.0

28.3

204.9

44.5

10.3

37.7

33.7

81.1

12.1

20.1

30.5

7.1

10.1

18.0

3.0

2.0

Graph the distribution and describe its main features.

(a) Examine the data. Why are you not surprised that most responses are multiples of 10 minutes? We eliminated one student who claimed to study 30,000 minutes per night. Are there any other responses you consider suspicious?

(b) Make a back-to-back stemplot of these data. Report the approximate midpoints of both groups. Does it appear that women study more than men (or at least claim that they do)?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91723827

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