Mathematics, 01.02.2021 23:40 oparadorableo8018
A company is considering producing some new products. Based on past records, management believes that there is a 70 percent chance that each of these will be successful, and a 30 percent chance of failure. Market research may be used to revise these probabilities. In the past, the successful products were predicted to be successful based on market research 90 percent of the time. However, for products that failed, the market research predicted these would be successes 20 percent of the time. If market research is performed for a new product, what is the probability that the results indicate a successful market for the product and the product actually is successful?
Answers: 2
Mathematics, 21.06.2019 23:00, CelesteN64
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