Question: PETE 353 For the decision in Problem 2, the operator is considering purchasing seismic data prior to the decision. Regarding seismic accuracy, the probability is

PETE 353 For the decision in Problem 2, the operator is considering purchasing seismic data prior to the decision. Regarding seismic accuracy, the probability is 65% that the seismic will indicate the well is a dry hole if it is actually a dry hole and the probability is 75% that the seismic will indicate the well is successful if it is actually successful. The seismic data will cost $500M

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