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URGENT stats problem
Former Member
Posts: 1,876,323 The Mix Honorary Guru
can anyone help with a stats question...
a company is looking for oil or gas holes in a virgin basin.
The success ratio of finding a hole is 10% per hole.
what is the probability of the exploration being a total failure (i.e. not finding any holes at all?)
the way i did it was:
if each hole has 10% success, then it has 90% failure
so i did 0.9x0.9x0.9x0.9x0.9 which gives 0.59049
is this correct?
cheers
a company is looking for oil or gas holes in a virgin basin.
The success ratio of finding a hole is 10% per hole.
what is the probability of the exploration being a total failure (i.e. not finding any holes at all?)
the way i did it was:
if each hole has 10% success, then it has 90% failure
so i did 0.9x0.9x0.9x0.9x0.9 which gives 0.59049
is this correct?
cheers
Post edited by JustV on
0
Comments
they have a virgin basin, in which they drill to find gas / oil.
there is a 10% chance per drill hole, that they find gas / oil.
you dont say how many times they drill in the basin... but given you've multiplied 0.9 by 5, I guess they tried 5 times?
Total failure = 0.9^5 = 0.59049 = 59.049% (or 59%, as the question implies)
Then you can do the thingy,
fffff = 1 * 0.9^5 *0.1^0
ffffp = 5 * 0.9^4 * 0.1^1
fffpp = 10 * 0.9^3 * 0.1^2
ffppp = 10 * 0.9^2 * 0.1^3
fpppp = 5 * 0.9^1 * 0.1^4
ppppp = 1 * 0.9^0 * 0.1^5
I think.
Thanx Again
Steve