Norfisk Oil is drilling some exploratory wells on the mainland of Norway. The results are described as

Question:

Norfisk Oil is drilling some exploratory wells on the mainland of Norway. The results are described as either a 'dry well' or a 'producer well'. Past experience suggests that 10% of exploratory wells are producer wells.
If the company drills 12 wells, what is the probability that all 12 are producer wells? What is the probability that all 12 are dry wells? What is the probability for the number of dry wells?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...