A company is considering drilling oil wells. The probability ofsuccess for each well is 0.20. The cost of each well is $5(in1000). Each well that is successful will be worth $60 (in1000).
1) If the company drills 4 wells, the probability of at leastone successful well is
2) If the company drills 40 wells, the approximate probabilityof at most one successful well is
3) The expected profit and the variance of profit in 4 drillingsare
