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Computer analysis of satellite data has correctly forecast locations of economic oil deposits 80% of the time. The last 24 oil wells drilled produced only 8...

      

Computer analysis of satellite data has correctly forecast locations of economic oil deposits 80% of the time.
The last 24 oil wells drilled produced only 8 wells that were economic. The latest analysis indicates economic quantities at a particular location. What is the probability that the well will produce economic quantities of oil?

  

Answers


Mutiso
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Mutiso answered the question on December 7, 2018 at 08:38


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