# Task 1: Consider the following table with 100 permeability values, ...

## Transcribed Text

Task 1: Consider the following table with 100 permeability values, and answer the questions below it (you can use Excel) 44.3 29.1 65.2 66.0 512.1 16.8 19.7 11.3 4.5 4.5 33.2 10.9 42.0 19.4 26.3 72.2 5.9 310.2 43.4 35.6 134.9 34.1 553.7 80.3 35.8 24.1 51.8 82.3 79.2 19.0 34.7 24.6 75.8 148.7 3.7 21.4 179.6 91.1 20.8 47.8 3.9 91.3 101.1 102.6 12.4 256.5 7.4 132.1 38.9 469.7 84.1 50.9 15.4 22.5 5.1 655.9 202.6 95.4 37.8 36.0 35.6 229.7 41.1 129.9 113.4 31.6 69.1 38.2 186.7 62.1 19.0 30.3 54.7 39.6 21.2 25.1 427.6 38.0 26.3 3.5 109.1 79.4 13.2 14.9 19.8 6.3 21.1 53.7 59.8 6.2 72.1 8.0 57.0 16.7 79.3 10.9 51.6 6.1 5.9 100.2 a) Graph the relative frequency histogram (comment about the distribution shape) b) Graph the cumulative frequency histogram c) Graph the box-plot (comment its relation to the distribution shape) d) Using the studied definition of outlier values, are there any outlier value? e) Determine the mean, median and provide a possible mode value (justify your selection). In your opinion, which of these values better represent the central tendency of the dataset? f) Determine the standard deviation, coefficient of variation, the interquartile range, and the skewness indicator. g) Present all above statistical indicators in a summary table Task 2: (Bayes’ Theorem Application) Suppose that considering all the fields operated by the company “In my Dreams”, 5 of every 100 wells reporting production of light crude oil are damaged. Likewise, 20 of every 500 wells producing medium crude oil also suffer some type of damage. Suppose also that the number of wells producing light crude and producing medium crude is the same. If a well is randomly selected: a. Determine the probability that it is not damaged. b. Once a damaged well is selected, what is the probability that it is a well producing light crude oil? Task 3: The company “In My Dreams” plans to drill 8 horizontal wells in a non-drilled area of a producing shale formation (oil), and its reservoir team, based on DCA, has estimated the occurrence of three possible type curves that define producers: poor producer (EUR = 2.0 MMbls), intermediate producer (EUR = 20 MMbls), and good producer (EUR = 100 MMbls). The estimated probabilities of occurrence of these producer types are 25%, 60%, and 15% respectively. 1. What’s the probability of having exactly two good producers during the campaign? Calculate the probability of getting more than two good producers. 2. An economy evaluation could determine that the project is viable just with the occurrence of four intermediate producers. Calculate the probability of getting exactly four intermediate producers 3. The economy evaluation team determines that the project is commercial if the company gets either exactly two good producers or exactly four intermediate producers. Determine the probability of getting either exactly two good producers or exactly four intermediate producers. Hint: You can find Excel files in Internet that have executable multinomial formulas

## Solution Preview

These solutions may offer step-by-step problem-solving explanations or good writing examples that include modern styles of formatting and construction of bibliographies out of text citations and references. Students may use these solutions for personal skill-building and practice. Unethical use is strictly forbidden.

By purchasing this solution you'll be able to access the following files:
Solution.docx and Solution.xlsx.

\$50.00
for this solution

PayPal, G Pay, ApplePay, Amazon Pay, and all major credit cards accepted.

### Find A Tutor

View available Applied Statistics Tutors

Get College Homework Help.

Are you sure you don't want to upload any files?

Fast tutor response requires as much info as possible.