An oil drilling company ventures into various locations, and its success or failure is independent from one location to another. Suppose the probability of a success at any specific location is 0.25.
(a) What is the probability that the driller drills at 10 locations and has 1 success?
(b) The driller will go bankrupt if it drills 10 times before the first success occurs. What are the driller's prospects for bankruptcy?