1. A drilling company has estimated a 40% chance of striking oil for their new well. A detailed test has been scheduled for more information. Historically, 80% of successful wells have had detailed tests, and 20% of unsuccessful wells have had detailed tests. Given that this well has been scheduled for a detailed test, what is the probability that the welll will be successful?
2. 
   
3. A. .727
4. B..456
5. C..789
6. D..668
7. 
   
8. A drilling company has estimated a 30% chance of striking oil for their new well. A detailed test has been scheduled for more information. Historically, 80% of successful wells have had detailed tests, and 20% of unsuccessful wells have had detailed tests. Given that this well has been scheduled for a detailed test, what is the probability that the welll will be successful?
9. 
   
10. A..500
11. 
    
12. B. .667
13. 
    
14. C. .785
15. 
    
16. D. .632

Answer rating: 100% (QA)

Question 1 The probability that the well will be success... View the full answer