Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Statistics


Home >> Statistics and Probability

Question: Shamrock Oil has some revised information concerning the accuracy of the geological test probabilities. According to this new information, the probability that the test will be positive, given that oil is present in the ground, is 0.85. The probability that the test will be negative, given that oil is not present, is 0.75. Calculate the posterior probabilities and reevaluate the decision tree from Does this new information affect Shamrock Oil's original decision?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92768350

Have any Question?


Related Questions in Statistics and Probability

The lifetime of a particular type of light bulb are

The lifetime of a particular type of light bulb are approximately normally distributed with a mean of 1200 hours and a standard deviation of 140 hours. a) Find the probability that a randomly chosen bulb will burn longer ...

You have graduated from college but unfortunately have

You have graduated from college but unfortunately have $33,000 in outstanding loans. The loans require monthly payments of $3,700, which covers interest and principal repayment (that is, the loan has the same basic featu ...

In an effort to check the quality of their cellnbspphones a

In an effort to check the quality of their cell? phones, a manufacturing manager decides to take a random sample of 10 cell phones from? yesterday's production? run, which produced cell phones with serial numbers ranging ...

A stocks price fluctuations are approximately normally

A stock's price fluctuations are approximately normally distributed with a mean of $26.94 and a standard deviation of $3.54. You decide to sell whenever the price reaches its highest 10% of values. What is the highest va ...

Help me study by answering this question a stock is just

Help me study by answering this question. A stock is just paid a dividend of $0.91 and is growing at a constant rate of 10 percent per year. If the required rate of return is 15 percent, what is the stock's expected pric ...

If all the data values in a population are converted to

If all the data values in a population are converted to? z-scores, the distribution of? z-scores will have what? mean? Choose the correct answer below. A. The mean of the? z-scores will be zero. B. The mean of the? z-sco ...

A in how many ways can 5 men and women stand in a queue in

(a) In how many ways can 5 men and women stand in a queue in such a way that no two women stand together and no two men stand together? (b) A librarian wants to put 30 different books on 3 shelves, 10 books on each shelf ...

During this course you have compiled a marketing plan for

During this course, you have compiled a marketing plan for your fictional start-up company. Share the most important part of the marketing plan, and include an explanation of your company and product/service, situation a ...

5 of females smoke cigarettes what is the probability that

5% of females smoke cigarettes. What is the probability that the proportion of smokers in a sample of 865 females would be greater than 3%

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved