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Customers are used to evaluating preliminary product design. In the past, 95% of highly successful products received good reviews, 60% of moderately successful products received
Customers are used to evaluating preliminary product design. In the past, 95% of highly successful products received good reviews, 60% of moderately successful products received good reviews, and 10% of poor products received good reviews. In addition, 45% of products have been highly successful, 30% have been moderately successful, and 25% have been poor products.
- What is the probability that a product will attain a good review?
- If a new design attains a good review, what is the probability that it will be a highly successful product?
- If a product does not attain a good review, what is the probability that it will be a highly successful product?
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