Question
A consumer products company found that 42% of successful products also received favorable results from test marketresearch, whereas 12% had unfavorable results but nevertheless were
A consumer products company found that 42% of successful products also received favorable results from test marketresearch, whereas 12% had unfavorable results but nevertheless were successful. Thatis, P(successful product and favorable test market)=0.42 andP(successful product and unfavorable test market)=0.12. They also found that 35% of unsuccessful products had unfavorable researchresults, whereas 11% of them had favorable researchresults, that isP(unsuccessful product and unfavorable test market)=0.35 andP(unsuccessful product and favorable test market)=0.11. Find the probabilities of successful and unsuccessful products given known test marketresults, thatis, P(successful product given favorable testmarket), P(successful product given unfavorable testmarket), P(unsuccessful product given favorable testmarket), andP(unsuccessful product given unfavorable testmarket).
P(successful product given favorable test market)=
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