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Marat540 [252]
2 years ago
10

An oil exploration firm is formed with enough capital to finance ten explorations. The probabil- ity of a particular exploration

being successful is .1. Assume the explorations are independent. Find the mean and variance of the number of successful explorations.
Mathematics
1 answer:
tensa zangetsu [6.8K]2 years ago
6 0

Answer:

μ = 1 The firm expects that one oil exploration will be successful.

v(x)= 0.9

Step-by-step explanation:

The first step is to define the random variable x as:

x: number of oil explorations being succesful

Then x can be take this values:

x = 0 , x =1 ... x =10

x is a binomially distributed random variable with parameters.

p = 0.1 and  n=10

And the mean or the expected value of x is:

μ = E(x) = np

Then μ = 10*0.1 = 1

And the variance of x is:

V(x) = np(1-p)

V(x) = 10(0.1)(1-0.1)= 0.9

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