Jason inherited a piece of land from his great-uncle. Owners in the area claim that there is a 45% chance that the land
has oil. Jason decides to test the land for oil. He buys a kit
that claims to have an 80% accuracy rate of indicating oil in
the soil. If the test predicts that there is no oil, what is the
probability after the test that the land has oil?
0.1698
• 0.2217
• 0.5532
0.7660

You were told that the amount of time lapsed between consecutive trades on the new york stock exchange followed a normal distribution with a mean of 15 seconds. you were also told that the probability that the time lapsed between two consecutive trades to fall between 16 to 17 seconds was 13%. the probability that the time lapsed between two consecutive trades would fall below 13 seconds was 7%. what is the probability that the time lapsed between two consecutive trades will be between 14 and 15 seconds?