A technique called 3-D seismic attribute analysis has been used over the past decade to improve the exploration and development of new oil wells in the US. A three-year study done in Kansas reported that the commercial success rate for wells drilled with 3-D seismic data was 70%, compared to a success rate of 30%–35% for “wildcat” wells. You are monitoring six new drilling sites that are using 3-D seismic data. Use the binomial function to compute the probability that these sites will produce
a. Exactly three successful wells.
b. Exactly four unsuccessful wells.
c. No successful wells.
d. No more than two successful wells.

  • CreatedJuly 16, 2015
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