b) Blue Star United, a major electronics distributor, has hired Southwest Forecasters, a market research firm, to predict thelevel of demand for its new product that combines cell phone and complete Internet capabilities at a price substantiallybelow its major competitors. As part of its deliverables, Southwest provides a rating of Poor, Fair, or Good, on the basisof its research. Prior to engaging Southwest Blue Star, management concluded the following probabilities for themarket-demand levels:P(Low)== P(s1) = 0.1 P(Moderate) = P(s2) = 0.5 P(High) = P(s3) = 0.4Southwest completes its study and concludes that the market potential for this product is poor. What conclusion should Blue Starreach based on the market-study results?Proportion of Assessments Provided by a Market-Research Organization Prior to Various Levels of Market Demand(Conditional Probabilities) are given in, the following table:Market Demand That Actually Occurred After Assessment Was ProvidedModerate Demand (s2)AssessmentLow Demand (s1)0.6High Demand (s3)0.10.2Poor0.3Fair0.20.4Good0.20.30.7

Name: b) Blue Star United, a major electronics distributor, has hired South
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Description: b) Blue Star United, a major electronics distributor, has hired Southwest Forecasters, a market research firm, to predict thelevel of demand for its new product that combines cell phone and complete Internet capabilities at a price substantiallybelo

Answer can be given using formula of conditional probability.

Math

Statistics

b) Blue Star United, a major electronics distributor, has hired Southwest Forecasters, a market research firm, to predict the level of demand for its new product that combines cell phone and complete Internet capabilities at a price substantially below its major competitors. As part of its deliverables, Southwest provides a rating of Poor, Fair, or Good, on the basis of its research. Prior to engaging Southwest Blue Star, management concluded the following probabilities for the market-demand levels: P(Low)== P(sl) = 0.1 P(Moderate) = P(s2) = 0.5 P(High) = P(s3) = 0.4 Southwest completes its study and concludes that the market potential for this product is poor. What conclusion should Blue Star reach based on the market-study results? Proportion of Assessments Provided by a Market-Research Organization Prior to Various Levels of Market Demand (Conditional Probabilities) are given in, the following table: Market Demand That Actually Occurred After Assessment Was Provided Low Demand (s1) Moderate Demand (s2) 0.3 High Demand (s3) 0.1 Assessment Poor Fair 0.6 0.2 0.2 0.4 0.2 0.7 Good 0.3

b) Blue Star United, a major electronics distributor, has hired Southwest Forecasters, a market research firm, to predict the level of demand for its new product that combines cell phone and complete Internet capabilities at a price substantially below its major competitors. As part of its deliverables, Southwest provides a rating of Poor, Fair, or Good, on the basis of its research. Prior to engaging Southwest Blue Star, management concluded the following probabilities for the market-demand levels: P(Low)== P(sl) = 0.1 P(Moderate) = P(s2) = 0.5 P(High) = P(s3) = 0.4 Southwest completes its study and concludes that the market potential for this product is poor. What conclusion should Blue Star reach based on the market-study results? Proportion of Assessments Provided by a Market-Research Organization Prior to Various Levels of Market Demand (Conditional Probabilities) are given in, the following table: Market Demand That Actually Occurred After Assessment Was Provided Low Demand (s1) Moderate Demand (s2) 0.3 High Demand (s3) 0.1 Assessment Poor Fair 0.6 0.2 0.2 0.4 0.2 0.7 Good 0.3

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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