Byrd Harmon
05/30/2024 · Middle School
20. Assume a profitable economic well produces an average income of \( \$ 23 \) million, while the average cost of a dry hole is \( \$ 1.2 \) million. How much profit can be expected from a 100 -well drilling program? A. \( \$ 106.8 \) million B. \( \$ 146.2 \) million C. \( \$ 253.0 \) million D. \( \$ 359.8 \) million
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The expected profit from a 100-well drilling program depends on the probability of hitting a profitable well, which is not provided. Without this information, the expected profit cannot be determined.
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