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Please help with this statistics question. Thank you! Your company is launching a new product. Two scenarios may happen: - Y: the product is popular
Please help with this statistics question. Thank you!
Your company is launching a new product. Two scenarios may happen: - Y: the product is popular - 80% consumers are interested in it. - N: the product is not popular - 20% consumers are interested in it. Two separate and independent surveys were conducted by two analysts. Assume both surveys are based on random sampling among representative consumers. Without seeing the results of the surveys, you believe the two scenarios occur equally likely. The results of the two surveys are: . E= "2 are interested and 8 are not interested in the product, among 10 responders" . F= "16 are interested and 4 are not interested in the product, among 20 responders"Suppose you see the results of both E and F. Which scenario is more likely? ON O Yand / are equally likely O It cannot be determined without additional information OYStep by Step Solution
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