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d) Which probability(ies) in the tree is/are conditional? Select all that apply. :I A. The probability of a well getting environmental approval :I B. The
d) Which probability(ies) in the tree is/are conditional? Select all that apply. :I A. The probability of a well getting environmental approval :I B. The probability of a well being economical :I C. The probability of a well being dry :I D. The probability of a well being not dry :I E. The probability of a well not being economical :I F. The probability of a well not getting environmental approval 6) lfthe oil company were to drill an exploratory well in the Arctic, what is the probability that the company would actually extract oil from it? D (Round to four decimal places as needed.) An oil company executive and an executive of a mining company met during a conference. "They say 30% of the world's undiscovered oil is in the Arctic," started the oil man. "We've dri||ed 64 exploratory wells and all but 10 of them were dry. Only 3 of those 10 are economical with the oil prices being projected for the next 10 years. The good news is that 85% of these projects get environmental approvals." The mining executive replied, "It'sjust as bad in mining. We know where there's uranium, but with the current unpopularity of nuclear power, we estimate the chance of it being protable is less than 9%." Complete parts (a) through (e) below. 0.0380 Approved 0.15 Economical 0.300 0.85 0.700 Not Approved 0.2152 Not dry 0.844 0.5908 Not economical 0.156 Dry 0.156 10 Dry = 64 = 0.156 Not dry = 1 - 0.156 = 0.844 3 Economical = 10 = 0.300 Not economical = 0.844(0.700)= 0.5908 Total probability: 0.156+0.5908+0.2152+0.380= 1
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