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(#3.56) an oil exploration firm is formed with enough capital to finance 10 explorations. the probability of a particular exploration being successful is 0.1. find and of the number of successful explorations

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Let's assume that the probability of a particular exploration being successful is 0.1, which means the number of successful explorations has the binomial distribution with parameters n = 10 and p = 0.2. Therefore, the mean and variance of B(n, p) are np = 2 and np(1 â’ p) = 1.6 respectively.
User Ahsan Raza
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