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GloboSnax has an overall 1 0 % success rate when introducing new products. ( Suppose success here means a product achieves a certain target market

GloboSnax has an overall 10% success rate when introducing new products.(Suppose success here means a product achieves a certain target market share within 2 years of its introduction.)
Before roll-out, a secret forecasting committee assesses each new product, and labels it a winner or loser. In the past, the committee has done reasonably well in distinguishing between successful and unsuccessful products:
90% of products that went on to succeed were correctly called winners by the committee.
80% of products that went on to fail were correctly called losers by the committee.
A new product called CocoChips is evaluated and labeled a winner by the committee.

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