6. Exxon Mobil is trying to explore possibility of finding oil in Gardner. Exxon

Question

6. Exxon Mobil is trying to explore possibility of finding oil in Gardner. Exxon Mobil has a probability of finding oil 20% of the time. There are only two choices: Hitting oil-meaning that they get the oil or missing oil - meaning that they miss to get the oil. Use H to represent hitting the oil and M to represent missing the oil. The two cases are independent of each other. Exxon Mobil attempts to find oil two times(two trials) G) Write down the sample space for all possibilities using H for hit and M for miss. (ii) Find the probability of finding gas in at least one of them. Hint: Probability of finding gas is NOT 4 or h (iii) Find the probability that they get oil in both trials (iv) Find the probability of getting oil in the first try and missing in the second try

Explanation / Answer

(i) Sample space = {HH, HM, MH, MM}

(ii) P(H) = 0.2

P(M) = 1 - 0.2 = 0.8

P(finding gas in at least one of them) = 1 - P(not finding gas in both)

= 1 - 0.8x0.8

= 0.36

(iii) P(oil in both trials) = 0.2x0.2

= 0.04

(iv) P(getting oil in the first try and missing in the second try) = 0.2x0.8

= 0.16

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