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An oil Company conducts a geological study that indicates that exploratory oil well should have a...

An oil Company conducts a geological study that indicates that exploratory oil well should have a 20% chance of striking oil.

  1. What is the probability that the first strike comes on the third well drilled?
  2. What is the probability that the third strike comes on the seventh well drilled?
  3. What is the mean and variance of the number of wells that must be drilled if the oil company wants to set up three producing wells?
Math   Statistics-And-Probability   
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