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bachelor in business administration
Polytechnic State University Sanluis
Jan-2006 - Nov-2010
CPA
Polytechnic State University
Jan-2012 - Nov-2016
Professor
Harvard Square Academy (HS2)
Mar-2012 - Present
Refer to Exercise 3.70. The prospector drills holes until he finds a productive well. How many holes would the prospector expect to drill? Interpret your answer intuitively.
Exercise 3.70
An oil prospector will drill a succession of holes in a given area to find a productive well. The probability that he is successful on a given trial is .2.
a What is the probability that the third hole drilled is the first to yield a productive well?
b If the prospector can afford to drill at most ten wells, what is the probability that he will fail to find a productive well?
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