The probability of not hitting oil is .8
The probability of not hitting oil in 5 tries is .8^5 = .32768. Ergo, the probability of getting at least 1 hit is (1-.32768) = .67232
Ok please help me. Here is my stats question
Suppose there is a 20% chance of striking oil at a certain location. An oil company drills at 5 different spots. What is the probablity of them striking oil on at least one of the spots?
Any help is greatly appreciated
1 answer
1 answer