Business, 26.10.2021 22:00 hjlhdjfhjh
An oil company is planning extraction strategy in a region. The company is contracted to deliver M barrels of crude oil per week to its customer. The company would like to make certain that it extracts at least M barrels per week at least 90% of the time. To do the extraction the company can build a number of oil rigs. Assume that daily production from each rig is well-described with uniform distribution from a barrels to b barrels.
Required:
Determine the minimum number of rigs that will make sure that the overall production is more than M on at least 90% of weeks.
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An oil company is planning extraction strategy in a region. The company is contracted to deliver M b...
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