A consumer products company found that 49% of successful products also received favorable results from test market research, whereas 12% had unfavorable results but nevertheless were successful. That is, P(successful product and favorable test market) = 0.49 and P(successful product and unfavorable test market) = 0.12. They also found that 28% of unsuccessful products had unfavorable research results, whereas 11% of them had favorable research results, that is P(unsuccessful product and unfavorable test market)= 0.28 and P(unsuccessful product and favorable test market) = 0.11. Find the probabilities of successful and unsuccessful products given known test market results, that is, P(successful product given favorable test market), P(successful product given unfavorable test market), P(unsuccessful product given favorable test market), and P(unsuccessful product given unfavorable test market). P(successful product given favorable test market) = (Round to two decimal places as needed.)

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A consumer products company found that 49% of successful products also received favorable results from test market research, whereas 12% had unfavorable
results but nevertheless were successful. That is, P(successful product and favorable test market) = 0.49 and P(successful product and unfavorable test
tudent market) = 0.12. They also found that 28% of unsuccessful products had unfavorable research results, whereas 11% of them had favorable research results, that
is P(unsuccessful product and unfavorable test market) 0.28 and P(unsuccessful product and favorable test market) = 0.11. Find the probabilities of successful and
unsuccessful products given known test market results, that is, P(successful product given favorable test market), P(successful product given unfavorable
test market), P(unsuccessful product given favorable test market), and P(unsuccessful product given unfavorable test market).
StatCrui
eText C P(successful product given favorable test market) =
(Round to two decimal places as needed.)
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Transcribed Image Text:signm A consumer products company found that 49% of successful products also received favorable results from test market research, whereas 12% had unfavorable results but nevertheless were successful. That is, P(successful product and favorable test market) = 0.49 and P(successful product and unfavorable test tudent market) = 0.12. They also found that 28% of unsuccessful products had unfavorable research results, whereas 11% of them had favorable research results, that is P(unsuccessful product and unfavorable test market) 0.28 and P(unsuccessful product and favorable test market) = 0.11. Find the probabilities of successful and unsuccessful products given known test market results, that is, P(successful product given favorable test market), P(successful product given unfavorable test market), P(unsuccessful product given favorable test market), and P(unsuccessful product given unfavorable test market). StatCrui eText C P(successful product given favorable test market) = (Round to two decimal places as needed.) Study PI Video & Library (0/1) Accessit (0.50 Purchas Commu Help Me Solve This View an Example Get More Help - Clear All Check Answer ns Con Type here to search acer F5 F6 F8 F9 F10 F12 Numtk
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