What is the probability that a product attains a good

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Customers are used to evaluate preliminary product designs. In the past, 95% of highly successful products received good reviews, 54% of moderately successful products received good reviews, and 14% of poor products received good reviews. In addition, 40% of products have been highly successful, 35% have been moderately successful and 25% have been poor products. Round your answers to four decimal places (e.g. 98.7654).

(a) What is the probability that a product attains a good review?

(b) If a new design attains a good review, what is the probability that it will be a highly successful product?

Reference no: EM13641447

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