A market research firm conducts studies regarding the success of new products. The company is not always perfect in predicting the success. Suppose that there is 65% chance that any new product would be successful (and a 35% chance that it would fail). In the past, for all new products that ultimately were successful, 80% were predicted to be successful (and the other 20% were inaccurately predicted to be failures). Also, for all new products that were ultimately failures, 70% were predicted to be failures (and the other 30% were inaccurately predicted to be successes).

IF the market research predicted that a product would be a success, what is the probability that it would actually (or originally) be a success?

Select one:

A.Between 0.78 and 0.80

B.Less than 0.78

C.Between 0.80 and 0.82

D.Between 0.84 and 0.86

E.Between 0.82 and 0.84