Question: Suppose the following probability distribution describes the possible number of barrels of oil (in millions) that might be found when drillin^g for oil.

a) What is the probability that at least 30 million barrels of oil will be found?

b) If oil is selling for $30 per barrel, what is the expected revenue from drilling an oil well?

c) Suppose it costs $5 million to drill the well and then (if oil is actually pumped to the surface) it costs the company $8 per barrel to extract the oil from the ground, what is the companies expected profit from drilling an oil well?