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L Each day companies introduce thousands of new products in the market Usually new products are test marketed before the},r are introduoed for sale. The
L Each day companies introduce thousands of new products in the market Usually new products are test marketed before the},r are introduoed for sale. The probability is 0.65 that a new product introduced by a company will be successful. For an eventually successful product, probability is 0.95 that 50% or more of the people included in the test like it. However, for an eventually unsuccessful product, probability is 0.20 that 50% or more of the people included in the test like it. A company recently introduced a new product- What is the probability that this product will be successful if less than 50% of the people included in the test like it
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