(Answered) Question an oil explorer orders seismic tests to determine

Statistics

Question: An oil explorer orders seismic tests to determine whether oil is likely to be found in a certain drilling area. The seismic tests have a known reliability: When oil does exist in the testing area, the test will indicate so 85% of the time; when oil does not exist in the test area, 10% of the time the test will erroneously indicate that it does exist. The explorer believes that the probability of existence of an oil deposit in the test area is 0.4. If a test is conducted and indicates the presence of oil, what is the probability that an oil deposit really exists?

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92500690
Price:- $15

Verified Expert

Priced at $30 Now at $15, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

Given a normally distributed random variable x with mean mu

Given a normally distributed random variable, X, with mean (μ) and standard deviation (σ) shown on the right, calculate P(a μ =15 s = 2 a =16 b =20 Given a normally distributed random variable, X, with mean (μ) and stand ...

Some commercial aircraft fly with two engines assuming that

Some commercial aircraft fly with two engines. Assuming that the aircraft can land safely on a minimum of one engine, what is the probability of a catastrophe (non-safe landing due to engine failure) for the life of the ...

Suppose you just purchased a digital music player and have

Suppose you just purchased a digital music player and have put 9 tracks on it. After listening to them you decide that you like of the songs. With the random feature on your? player, each of the 9 songs is played once in ...

Jen and barry perform a survey of consumers about home meal

Jen and Barry perform a survey of consumers about home meal salad preferences ("fresh" or "fast"). 395 consumers said they prefer to make fresh salad. 426 said they prefer to make salad fast (out of a bag). 331 said they ...

Perform a conversion to compare costs between the two

Perform a conversion to compare costs between the two programs below, to find out which is the more expensive program. Program A: estimated cost in constant FY13 dollars: $16M Program B: estimated cost in constant FY19 d ...

In a pre-election poll a candidate for district attorney

In a? pre-election poll, a candidate for district attorney receives 253 of 500 votes. Assuming that the people polled represent a random sample of the voting? population, test the claim that a majority of voters support ...

Approximately once a month cars are shipped from rotterdam

Approximately once a month cars are shipped from Rotterdam, Holland to Lagos, Nigeria. The past data collection indicates that the weight of a car is normally distributed with the mean of 1,070 kg and the standard devia ...

32 of college students say they use credit cards because of

32% of college students say they use credit cards because of the rewards program. You randomly select 10 college students and ask each to name the reason he or she uses credit cards. Find the probability that the number ...

Calculate the cash and accounting break even point selling

Calculate the cash and accounting break even point. selling price $745, Variable cost $445 extra expense of $170,000 per on rent, $160,000 per year on utility plus additional of initial outlay of $120,000 in furniture (4 ...

What are the ways that it can help comply with legal

What are the ways that IT can help comply with legal requirements and social responsibilities surrounding the sales of alcohol?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert