Finance

An oil company is bidding for the rights to drill a well in field A and a well in field B. The…

An oil company is bidding for the rights to drill a well in
field A and a well in field B. The probability it will drill a well in field A
is 40%. If it does, the probability the well will be successful is 45%. The
probability it will drill a well in field B is 30%. If it does, the probability
the well will be successful is 55%. Calculate each of the following
probabilities:

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a) probability of a successful well in field A,

 b) probability of a successful well in field B,

 c) probability of both a successful well in field A and a
successful well in field B,

d) probability of at least one successful well in the two
fields together,

e) probability of no successful well in field A,

f) probability of no successful well in field B,

 g) probability of no successful well in the two fields
together (calculate by two methods),

h) probability of exactly one successful well in the two
fields together.

Show a check involving the probability calculated in part h.

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