The Striket Riche Company has begun drilling foroil. It anticipates 130 hour of drilling time beforereaching the oil. Experience has shown that thedrill bits it uses in this type of rock formation have alifetime that is lognormal with tmed = 2 hr ands=0.91. The company currently has 35 drill bitsavailable. What is the probability of striking oilbefore it runs out of bits?

The drill bits used in this rock formation have a lognormal lifetime distribution with a median and…

Answered: The Striket Riche Company has begun…

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter10: Exponential And Logarithmic Functions

Section10.5: Solve Exponential And Logarithmic Equations

Problem 10.88TI: Researchers recorded that a certain bacteria population declined from 700,000 to 400,000 in 5 hours...

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Question

The Striket Riche Company has begun drilling for
oil. It anticipates 130 hour of drilling time before
reaching the oil. Experience has shown that the
drill bits it uses in this type of rock formation have a
lifetime that is lognormal with tmed = 2 hr and
s=0.91. The company currently has 35 drill bits
available. What is the probability of striking oil
before it runs out of bits?

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