Question

How much oil wells in a given field will ultimately produce is key information in deciding whether to drill more wells. Data was collected estimating the total amount of oil recovered (in thousands of barrels) from 64 wells in the Devonian Richmond Dolomite area of the Michigan Basin. The data is in an Excel file on Canvas. Give a 95% confidence interval for the mean amount of oil recovered from all wells in this area.

DATA:

Oil

21.7

53.2

46.4

42.7

50.4

97.7

103.1

51.9

43.4

69.5

156.5

34.6

37.9

12.9

2.5

31.4

79.5

26.9

18.5

14.7

32.9

196

24.9

118.2

82.2

35.1

47.6

54.2

63.1

69.8

57.4

65.6

56.4

49.4

44.9

34.6

92.2

37

58.8

21.3

36.6

64.9

14.8

17.6

29.1

61.4

38.6

32.5

12

28.3

204.9

44.5

10.3

37.7

33.7

81.1

12.1

20.1

30.5

7.1

10.1

18

3

2

Answer 1

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Explanation:

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