Question

Calculate the expected flow rate (barrels per day) for the North and East oil wells using the estimated probabilities.

Estimated Flow (bbl/day)	100	200	300	400
	Probability of Flow	Probability of Flow	Probability of Flow	Probability of Flow
North well	0.1	0.67	0.23	0.0
East well	0.35	0.15	0.45	0.05

The expected flow rate for North well is ____ bbl/day.

The expected flow rate for East well is _____ bbl/day.

Answer 1

Estimated Flow (bbl/day), F	100	200	300	400
P	Probability of Flow	Probability of Flow	Probability of Flow	Probability of Flow
North well	0.1	0.67	0.23	0
East well	0.35	0.15	0.45	0.05

a)

The expected flow rate for North well is _213_bbl/day.

b)

The expected flow rate for East well is _220_ bbl/day.