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 20% are huge successes, 30% are modest successes, 40% break even, and 10% are losers. However, before a publishing decision is made, the book will be reviewed. In the past, 99% of the huge successes received favorable reviews, 60% of the moderate successes received favorable reviews, 50% of the break-even books received favorable reviews, and 20% of the losers received favorable review 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 .331. (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 301 (Round to three decimal places as needed.) The probability that if the proposed textbook receives a favorable review, the book will break even is 334. (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 0.033. (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 59.8 (Round to three decimal places as needed.).