Customers are used to evaluate preliminary product designs. In the past, 95% of highlysuccessful products received good reviews, 50% of moderately successful products receivedgood reviews, and 10% of poor products received good reviews. In addition, 30% of productshave been highly successful, 30% have been moderately successful, and 25% have been poorproducts.What is the probability that a product attains a good review?If a new design attains a good review, what is the probability that it will be a highly successfulproduct?

Obtain the probability that the product attains a good review. The probability that the product…

Answered: Customers are used to evaluate…

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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A company is considering producing some new products. Based on past records, management believes that there is a 70 percent chance that each of these will be successful, and a 30 percent chance of failure. Market research may be used to revise these probabilities. In the past, the successful products were predicted to be successful based on market research 90 percent of the time. However, for products that failed, the market research predicted these would be successes 20 percent of the time. If market research is performed for a new product, what is the probability that the results indicate a successful market for the product and the product actually is successful?
Two friends are opening a coffee shop. As they write their business plan, they research the amount of debt similar businesses can have in the first two years of opening. It is known that 72% of coffee shops have a debt of over $50,000 within the first two years of opening. If a random sample of 36 coffee shops is obtained, use a calculator to find the probability that more than half of them had debt of over $50,000 within the first two years of opening. Round your answer to three decimal places. Provide your answer below:
An airline is considering adding a route to the city of Buffalo, NY. Market research predicts that if the airline serves Buffalo, there is a 32% probability of making a $500,000 profit, a 22% chance of breaking even, and a 46% probability of losing $300,000. What is the expected value of adding a route to Buffalo?
rudolph's electronics makes sets of christmas lights. on average, 4% of the bulbs produced by theircupplier will be defective. rudolph samples 300 bulbs from each shipment. if more than 3% of the bulbs aredefective, he refuses the shipment. what is the probability that a given shipment will be accepted?
a recent senatorial election, 58% of the voters in a certain district were registered as Democrats, 32% were registered as Republicans, and 10% were registered as Independents. The cumbent Democratic senator was reelected over her Republican and Independent opponents. Exit polls indicated that she gained 79% of the Democratic vote, 30% of the Republican ote, and 34% of the Independent vote. ASsuming that the exit poll is accurate, what is the probability that a vote for the incumbent was cast by a registered Republican? (Round your nswer to three decimal places.) E Show My Work (Optional) ?
Customers are used to evaluate preliminary product designs. In the past, 95% of highly successful products received good reviews, 40% of moderately successful products received good reviews, and 10% of poor products received good reviews. In addition, 40% of products have been highly successful, 35% have been moderately successful, and 20% have been poor products. What is the probability that a product attains a good review? If a new design attains a good review, what is the probability that it will be a highly successful product? O a. 0.460, 0.620 O b.0.585, 0.615 OC. NONE O d. 0.540, 0.704
In a recent year, the Better Business Bureau settled 75% of complaints they received. You have been hired by the Bureau to investigate complaints this year involving computer stores. You plan to select a random sample of complaints to estimate the proportion of complaints the Bureau is able to settle. Suppose your sample size is 299. What is the probability that the sample proportion will be at least 5 percent more than the population proportion?
According to the college registrar's office, 45% of students enrolled in an introductory statistics class this semester are freshmen, 20% are sophomores, 25% are juniors, and 10% are seniors. You want to determine the probability that in a random sample of five students enrolled in introductory statistics this semester, exactly two are freshmen. (a) Describe a trial. Can we model a trial as having only two outcomes? If so, what is success? What is failure? Choose one of the statements below:A. A trial consists of looking at the class status of a student enrolled in introductory statistics. Yes we can model this trial with "freshman" being a success and "any other class" as a failure.B. A trial consists of looking at the class status of a student enrolled in introductory statistics. Yes we can model this trial with "junior" being a success and "any other class" as a failure.C. A trial consists of looking at the class status of a student enrolled in introductory statistics. Yes we can…
In a recent senatorial election, 47% of the voters in a certain district were registered as Democrats, 36% were registered as Republicans, and 17% were registered as Independents. The incumbent Democratic senator was reelected over her Republican and Independent opponents. Exit polls indicated that she gained 73% of the Democratic vote, 22% of the Republican vote, and 34% of the Independent vote. Assuming that the exit poll is accurate, what is the probability that a vote for the incumbent was cast by a registered Republican? (Round your answer to three decimal places.)
A gas station has three grades of fuel, regular, premium and diesel. Due to problems with the supply chain, the probabilities that the station will run out of any three fuel types in a week are 0.10, 0.16 and 0.24, respectively. These probabilities are statistically independent. Also, if there is a shortage of diesel, the probability of a shortage of premium becomes 0.25. 1. How likely is the station to run out of all three fuels in a given week? 2. What is the probability that if regular runs out, both premium and diesel will also run out? 3. What is the probability that the station will run out of at least one of either premium and diesel? 4. What is the probability that the station will run out of at least 2 of the fuels in a week?

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