An editor may use all, some, or none of three possible strategies to enhance the sales of a book:a. An expensive prepublication promotionb. An expensive cover designc. A bonus for sales representatives who meet predetermined sales levelsIn the past, these three strategies have been applied simultaneously to only 2% of the company’s books. Twenty percent of the books have had expensive cover designs, and, of these, 80% have had expensive prepublication promotion. A rival editor learns that a new book is to have both an expensive prepublication promotion and an expensive cover design and now wants to know how likely it is that a bonus scheme for sales representatives will be introduced. Compute the probability of interest to the rival editor.

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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An editor may use all, some, or none of three possible strategies to enhance the sales of a book:
a. An expensive prepublication promotion
b. An expensive cover design
c. A bonus for sales representatives who meet predetermined sales levels
In the past, these three strategies have been applied simultaneously to only 2% of the company’s books. Twenty percent of the books have had expensive cover designs, and, of these, 80% have had expensive prepublication promotion. A rival editor learns that a new book is to have both an expensive prepublication promotion and an expensive cover design and now wants to know how likely it is that a bonus scheme for sales representatives will be introduced. Compute the probability of interest to the rival editor.

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