A consumer products company found that 48 of successful

Last updated: 7/11/2023

A consumer products company found that 48 of successful products also received favorable results from test market research whereas 14 had unfavorable results but nevertheless were successful That is P successful product and favorable test market 0 48 and P successful product and unfavorable test market 0 14 They also found that 26 of unsuccessful products had unfavorable research results whereas 12 of them had favorable research results that is P unsuccessful product and unfavorable test market 0 26 and P unsuccessful product and favorable test market 0 12 Find the probabilities of successful and unsuccessful products given known test market results that is P successful product given favorable test market P successful product given unfavorable test market P unsuccessful product given favorable test market and P unsuccessful product given unfavorable test market P successful product given favorable test market 0 80 Round to two decimal places as needed P successful product given unfavorable test market 0 35 Round to two decimal places as needed P unsuccessful product given favorable test market Round to two decimal places as needed