John Colorado is planning to open his open music store. He initially believes that there is a 50–50 chance that his music store will be a success. John is considering doing a market research study. Based on historical data, there is a 0.9 probability that the marketing research will be favorable given a successful music store. Moreover, there is a 0.8 probability that the marketing research will be unfavorable given an unsuccessful store.

(a) If the marketing research is favorable, what is John’s revised probability of a successful music store?

(b) If the marketing research is unfavorable, what is John’s revised probability of a successful music store?