answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
garri49
1 month ago
13

A market research firms conducts studies regarding the success of new products. The company is not always perfect in predicting

the success. Suppose that there is a 50% chance that any new product would be successful (and a 50% chance that it would fail). In the past, for all new products that ultimately were successful, 80% were predicted to be successful (and the other 20% were inaccurately predicted to be failures). Also, for all new products that were ultimately failures, 70% were predicted to be failures (and the other 30% were inaccurately predicted to be successes). For any randomly selected new product, what is the probability that the market research firm would predict that it would be a success?
Mathematics
1 answer:
AnnZ [12.3K]1 month ago
5 0

Response: The calculated probability is 0.7273.

Step-by-step breakdown:

According to the provided data:

                                Successes   Failures   Total

Forecasted successes           0.4                  0.15            0.55

Forecasted failures              0.1                  0.35             0.45

Total                                           0.5                  0.50                 1

This shows the likelihood of the market research agency predicting success.

P(Actual success|Predicted success) is calculated as:

\dfrac{0.4}{0.55}=0.7273

Therefore, the determined probability is 0.7273.

You might be interested in
Mario walked at a rate of 2/3 miles every 10 minutes what is his unit rate every mile per hour
AnnZ [12381]

Mario has a unit rate of 900 miles/hour.

Explanation:

It is given that Mario travels at a rate of 2/3 miles every 10 minutes.

We use the relation between speed, time, and distance, described by

\text{Speed}= \frac{\text{Distance}}{\text{Time}}

We have,

Distance = \frac{2}{3} \text{ miles}

Time = 10 minutes

By substituting these values into the preceding formula, we get

\text{Speed} = \frac{2/3}{10}\\\\ \text{Speed} =\frac{2}{10\cdot 3}\\\\ \text{Speed} =[tex]\frac{1}{15} \text{ miles/min}[/tex]

To express the unit rate in miles per hour, we must multiply by 60.

Thus, the resulting unit rate is

\frac{1}{15} \times 60\\ = 4 \text{ miles/hour}

5 0
19 days ago
Crane Company reports the following for the month of June.
babunello [11817]

Respuesta:

Crane Company

Informes financieros de junio

a) Costo de bienes disponibles para la venta = $5,250

b) Costo unitario de promedio móvil para:

i) 1 de junio: = $5

ii) 12:  = $4.75

iii) 15: = $4.75

iv) 23:  = $5.75

v) 27:  = $5.25

Explicación paso a paso:

a) Cálculos:

Fecha Explicación Unidades Costo Unitario Costo Total Costo Promedio Móvil

1 de junio Inventario 150 $4 $600 $4.000

12 Compra 450 5 2,250 4.750

15 Venta 500 7 3,500 4.750

23 Compra 400 6 2,400 5.750

27 Venta 420 8 3,360 5.250

30 Inventario 80

Costo de bienes disponibles para la venta = Costo del Inventario Inicial + Costo de Compras = $5,250 + ($600 + 2,250 + 2,400)

b) Costo unitario de promedio móvil para:

i) 1 de junio: Costo de bienes disponibles/Unidades disponibles = $5 ($600/150)

ii)  12: Costo de bienes disponibles/Unidades disponibles = $4.75 ($600 + 2,250/600)

iii)  15: Costo de bienes disponibles/Unidades disponibles = $4.75 ($475/100)

iv)  23: Costo de bienes disponibles/Unidades disponibles = $5.75 ($475 + 2,400)/500

v)  27: Costo de bienes disponibles/Unidades disponibles = $5.25 ($420/80)

8 0
24 days ago
Sixteen students are randomly selected from each grade level at a high school and asked about their eating habits. This sampling
PIT_PIT [12445]

Answer:

stratified random sampling method

8 0
21 day ago
Mr. Valdez puts $10,000 in a retirement account and does not make any deposits or withdrawals. The table below shows the amount
Leona [12618]

Response:f(x)= 9,974.73  (1.05)x

7 0
21 day ago
Read 2 more answers
CRITICAL THINKING A local zoo employs 36 people to take care of the animals each day. At most, 24 of the employees work full tim
lawyer [12517]
We consider all workers as either full-time or part-time. 36 = 24 + 12 If there are 24 or fewer full-time workers, there must be at least 12 part-time workers. (This conclusion is based on the understanding of sums.) You can formulate the inequality in two steps. First, present and resolve an equation for full-time workers in relation to part-time workers. Then, apply the specified limit on full-time workers. This results in an inequality that can be solved for part-time workers. Let f and p represent full-time and part-time positions, respectively. f + p = 36... given f = 36 - p... subtract p to express f in terms of p. f ≤ 24......... given (36 - p) ≤ 24.... substitute for f. This gives your inequality in terms of p. 36 - 24 ≤ p.... rearranging gives p ≥ 12........ this is the solution to the inequality
5 0
23 days ago
Other questions:
  • The area of a square can be represented by the expression x10 Which monomial represents a side of the square?
    14·2 answers
  • 2. A computer shop charges P20.00 per hour (or a fraction of an hour) for the first
    13·1 answer
  • David has been tasked with tracking the number of bagels sold (y) at freddy's 24-hour bagel shop from 12: 00 am (x= 0) to 12: 00
    9·1 answer
  • The physician tells a woman who usually drinks 5 cups of coffee daily to cut down on her coffee consumption by 75%. If this woma
    5·1 answer
  • The distance between city A and city B is 22 miles. The distance between city B and city C is 54 miles. The distance between cit
    6·2 answers
  • It is known that Ray AP bisects angle CAT. If m<CAT = 5x+17 and m<PAT = 3x-4, then determine the value of x.​
    8·1 answer
  • On the first play of the game, the Wildcats gained 8 yd. What integer represents a gain of 8 yd?
    5·2 answers
  • image Alan, Benton, Claire, and Dita divided the cost of throwing a party as shown in the circle graph above. If Dita spent $ 12
    8·1 answer
  • Assuming two hikers begin at a trail start, which scenarios must be true based on the table? Check all that apply.
    5·2 answers
  • Two friends race against each other in 100-meter and 800-meter races. Of the 200 races they ran this year, the wins, losses, and
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!