Question: Consider the well failure data in Exercise 2-53. (a) What is the probability of a failure given there are more than 1000 wells in a

Consider the well failure data in Exercise 2-53.

(a) What is the probability of a failure given there are more than 1000 wells in a geological formation?

(b) What is the probability of a failure given there are fewer than 500 wells in a geological formation?

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