An electronics company is planning to introduce a new camera phone. The company commissions a marketing report

Question:

An electronics company is planning to introduce a new camera phone. The company commissions a marketing report for each new product that predicts either the success or the failure of the product. Of new products introduced by the company, 60% have been successes. Furthermore, 70% of their successful products were predicted to be successes, while 40% of failed products were predicted to be successes. Find the probability that this new camera phone will be successful if its success has been predicted.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: