Mathematics, 20.10.2020 19:01, ToxicMonkey

A company plans to launch a new product. They have traditionally had a 60% success rate with the launch of new products. Market research predicts that a positive test market results is 80% of successfully launched products and a positive market result for 30% of failed product launches. a) If a market test result comes back negative, what is the probability that the product will be successfully launched?

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A company plans to launch a new product. They have traditionally had a 60% success rate with the lau...