An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities. P(high-qualityoil)=0.50P(medium-qualityoil)=0.15P(nooil)=0.35 a. What is the probability of finding oil (to 2 decimals)? 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 given below. P(sollhigh-qualityoil)=0.15P(soilmedium-qualityoil)=0.90P(soilnooil)=0.15 Given the soil found in the test, use Bayes' theorem to compute the following revised probabilities (to 4 decimals). P(high-qualityollsoli)P(medium-qualityoilsoil)P(noollsoil) What is the new probability of finding oil (to 4 decimals)