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QUESTION

he Striket Riche Company has begun drilling for oil. It anticipates 130 hrs of drilling time before reaching the oil.

he Striket Riche Company has begun drilling for oil. It anticipates 130 hrs of drilling time before reaching the oil. Experience has shown that the drill bits it uses in this type of rock formation have a lifetime that is lognormal with tmed hrs and .91. The company currently has 35 drill bits available. What is the probability of striking oil before it runs out of bits.

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