An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities. P(high-quality oil) = 0.30 P(medium-quality oil) = 0.20 P(no oil) = 0.50 If required, round your answers to two decimal places. (a) What is the probability of finding oil? (b) After 200 feet of drilling on the first well, a soil test is taken. The probabilities of finding the particular type of soil identified by the test are as follows. P(soil | high-quality oil) = 0.20 P(soil | medium-quality oil) = 0.80 P(soil | no oil) = 0.20 How should the firm interpret the soil test? The probability of finding oil is good. Given the probability of finding good soil, the oil company is more likely to find oil. What are the revised probabilities? Events P(Ai) P(S | Ai) P(Ai ∩ S) P(Ai | S) High Quality (A1) Medium Quality (A2) No Oil (A3) P(S)= What is the new probability of finding oil?

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Nicole has purchased the life insurance policy for her fish for the price of $200 per year and Nicole will receive $4000 in case if her fish passes away. The insurance company estimated the probability of her fish passing away during the length of the policy to be 0.5%. Let XX  be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for XX :  XX  outcome profit xx ,$  P(X=x)P(X=x)    fish passes away       fish survives     2. Use the probability distribution table to find the following:  E[X]=μX=E[X]=μX= dollars. (Round the answer to 1 decimal place.)  SD[X]=σX=SD[X]=σX= dollars. (Round the answer to 1 decimal place.)

Answer 1&2 plz

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The helght of all the people in your neighborhood. QUESTION 6 The Sarasota Police department collected data on the number of car accidents ( X ) that occur each day on a certain stretch of route 41. From this data, they derived the probability distribution shown in the table below. P(X) 0.80 1 0.15 0.05 What is the expected mean (average) number of accidents that occur each day? 0.50 0.25 0.33 1.00 Hal Saveand Submit to saue and submit Click Save All Ansm e Type here to search

15. During a recent period of high unemployment, hundreds of thousands of drivers dropped their automobile insurance. Sample data representative of the national automobile insur- ance coverage for individuals 18 years of age and older are shown here. b. C. Age 18 to 34 35 and over 60 Automobile Insurance Yes 1500 1900 a. Develop a joint probability table for these data and use the table to answer the remaining questions. No 340 260 What do the marginal probabilities tell you about the age of the U.S. population? What is the probability that a randomly selected individual does not have automobile insurance coverage? d. If the individual is between the ages of 18 and 34, what is the probability that the individual does not have automobile insurance coverage? e. If the individual is age 35 or over, what is the probability that the individual does not have automobile insurance coverage? f. If the individual does not have automobile insurance, what is the probability that the individual is…