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(s1) = 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 Assessment Low Demand (s1) Moderate Demand (s2) High Demand (s3) Poor 0.6 0.3 0.1 Fair 0.2 0.4 0.2 Good 0.2 0.3 0.7
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(s1) = 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 Assessment Low Demand (s1) Moderate Demand (s2) High Demand (s3) Poor 0.6 0.3 0.1 Fair 0.2 0.4 0.2 Good 0.2 0.3 0.7
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 9SGR
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Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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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(s1) = 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
Assessment Low Demand (s1) Moderate Demand (s2) High Demand (s3)
Poor 0.6 0.3 0.1
Fair 0.2 0.4 0.2
Good 0.2 0.3 0.7
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