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Quant. Analysis

  • From Mathematics, Data Analysis
  • Due on 12 Feb, 2016 11:46:00
  • Asked On 07 Feb, 2016 04:47:11
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10) A company is considering producing some new Gameboy electronic games. 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 product will be successful if the market research indicates a success?

A) 0.10

B) 0.90

C) 0.91

D) 0.63

E) 0.09

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[Solved] Answer Quant. Analysis

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  • Submitted On 14 Feb, 2016 06:52:12
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-- 70 percent chance that each of these will be successful p(successful market)= 0.7 -- th...
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