The editor of a textbook publishing company is trying to decide whether to publish a proposed business statistics textbook. Information on previous textbooks published indicate that 10% are huge?successes, 20% are modest?successes, 50% break?even, and 20% are losers.?However, before a publishing decision is?made, the book will be reviewed. In the?past, 97% of the huge successes received favorable?reviews, 60% of the moderate successes received favorable?reviews, 40% of the?break-even books received favorable?reviews, and 20% of the losers received favorable reviews.

What proportion of textbooks receives favorable?reviews?

The proportion of textbooks that receive a favorable reviews is ?

?(Round to three decimal places as?needed.)

4.4.36 Question Help The editor of a textbook publishing company is trying to decide whether to publish a proposed business statistics textbook. Information on previous textbooks published indicate that 10% are huge successes, 20% are modest successes, 50%% break even, and 20% are losers. However, before a publishing decision is made, the book will be reviewed. In the past, 97% of the huge successes received favorable reviews, 60% of the moderate successes received favorable reviews, 40% of the break-even books received favorable reviews, and 20% of the losers received favorable reviews. Complete parts (a) and (b). a. If the proposed textbook receives a favorable review, how should the editor revise the probabilities of the various outcomes to take this information into account? The probability that if the proposed textbook receives a favorable review, the book will be a huge success is 212 . (Round to three decimal places as needed.) The probability that if the proposed textbook receives a favorable review, the book will be a modest success is 263 . (Round to three decimal places as needed.) The probability that if the proposed textbook receives a favorable review, the book will break even is .438 . (Round to three decimal places as needed.) The probability that if the proposed textbook receives a favorable review, the book will be a loser is .088 . (Round to three decimal places as needed.) b. What proportion of textbooks receives favorable reviews? The proportion of textbooks that receive a favorable reviews is (Round to three decimal places as needed.)