A company that explores for oil in the ocean is considering two new sites, A and B. The exploration will take the entire year. The company estimates the probability of finding oil is 0.48 at site A and 0.31 at site B. The sites are far enough apart so that whether or not oil is found at one site, is independent of its being found at the other. Required:
a. Find the probability that oil is found at both sites.
b. Find the probability that oil is found at only one of the sites.