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import arcpy
arcpy.SelectLayerByAttribute_management("Strain Regions","NEW_SELECTION",'''"band_number" = 'Band 2' ''')
arcpy.SelectLayerByLocation_management("Earthquakes","COMPLETELY_WITHIN","Strain Regions",’’,”SUBSET_SELECTION”)
arcpy.AddField_management("Earthquakes",'region2', "TEXT")
arcpy.CalculateField_management("Earthquakes","region2",'"band 2"')