Mathematics, 25.10.2021 14:00 KaiKai11
An oil-drilling company knows that it costs $25,000 to sink a test well. If oil is hit, the income for the drilling company will be $405,000. If only natural gas is hit, the income will be $160,000. If nothing is hit, there will be no income. If the probability of hitting oil is 1/40 and if the probability of hitting gas is 1/20, what is the expectation for the drilling company?
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An oil-drilling company knows that it costs $25,000 to sink a test well. If oil is hit, the income f...
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