Question
Based on geological studies done on land in East Texas, a petroleum company believes the probability of finding high-quality oil is 25%, medium-quality oil is
Based on geological studies done on land in East Texas, a petroleum company believes the probability of finding high-quality oil is 25%, medium-quality oil is 41%, and no oil is 34%.Since drilling can be expensive, the petroleum company also plans on doing a soil test (since certain soil types are more apt to detect the presence and quality of oil).For example, the petroleum company knows that in 23% of high-quality oil finds, 16% of medium-quality oil finds, and 7% of no oil finds, the soil is soft type ASo, for East Texas land... Find the probability oil is found given the soil was soft type A ?
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