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  3. an oll drilling company knows that it costs 25 000

An oll drilling company knows that it costs 25 000 to sink a test well...

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An oll drilling company knows that it costs 25 000 to sink a test well If oil is hit the income for the drilling company will be 415 000 If only natural gas is hit the income will be 145 000 nothing is hit there will be no income If the probability of hitting oil is 1 40 and if the probability of hitting gas is 1 20 what is the expectation for the drilling company x Should the company sink the test well Yes No

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