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Offshore Oil/Gas Lease Bidding and the Weibull Distributions

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Offshore Oil/Gas Lease Bidding and the Weibull Distributions

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Title: Offshore Oil/Gas Lease Bidding and the Weibull Distributions
Author: Dyer, Danny D.
Abstract: It is the purpose of this paper to study the use of the Weibull distribution as an acceptable model for the distribution of the bids on a lease. A multi-sample test procedure of the Weibull-bids hypothesis will be given and implemented to show that the Weibull distribution provides a better statistical fit than does the lognormal distribution for the group of 13-, 14-, 15-, and 16-bid leases.
URI: http://hdl.handle.net/10106/2238
Date: 1980-03

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