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.
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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