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 day 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 [3.8K]1 day 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
Assume that a study of 500 randomly selected airplane routes showed that 482 arrived on time. Select the correct interpretation
babunello [3635]

Answer: C. Significant at 0.036

Step-by-step explanation:

Given:

Total samples selected Ns= 500

Airplanes that arrived on time Na = 482.

Airplanes that arrived late Nl = 500 - 482 = 18

Calculating the probability of an airplane arriving late:

P(L) = Nl/Ns

P(L) = 18/500

P(L) = 0.036

An event is deemed significant if its probability is equal to or less than 0.05.

As P(L) < 0.05

P(L) = Significant at 0.036

4 0
7 days ago
If Ana devotes all her time to making fudge, she can make 3 pounds of fudge an hour, and if he devotes all her time to making to
lawyer [4008]

Answer: Ana should produce more fudge, and Leo should produce more toffee.

Step-by-step explanation:

Comparative advantage defined: A person or country has a comparative advantage producing a good if their opportunity cost for it is lower than someone else's.

In this case, Ana and Leo will both benefit if they focus on the product for which they have the lower opportunity cost.

(a) Ana’s production possibilities:

If she spends all her time making fudge: 3 pounds; or toffee: 2 pounds.

Opportunity cost of 1 pound fudge = 2/3 = 0.66 pounds toffee

Opportunity cost of 1 pound toffee = 3/2 = 1.5 pounds fudge

(b) Leo’s production opportunities:

All time making fudge: 4 pounds; or toffee: 5 pounds.

Opportunity cost of 1 pound fudge = 5/4 = 1.25 pounds toffee

Opportunity cost of 1 pound toffee = 4/5 = 0.8 pounds fudge

Since Ana’s opportunity cost for fudge is lower than Leo’s, she should specialize in fudge production.

Conversely, Leo has a lower opportunity cost for toffee, so he should focus on producing toffee.

7 0
14 days ago
The volume of a cube depends on the length of its sides. This can be written in function notation as v(s). What is the best inte
AnnZ [3877]

Let

s--------> denote the cube's side length

We know that

the volume of a cube is calculated as

V(s)= s^{3}

if the side length s measures 2\ feet

then

s=2\ feet

and thus, the volume is defined as

V(2)= 2^{3}

V(2)= 8\ feet^{3}

This leads us to conclude

the correct option is

D. A cube with side lengths of 2 feet has a volume of 8 cubic feet.

5 0
11 days ago
Read 2 more answers
Robert was able to travel 292.0 miles in 4.000 hours and used 38 liters of gasoline. What was robert's speed in feet per second?
zzz [4022]

Robert covered a distance of 292 miles.

He took 4 hours to complete this journey.

Next, let's convert miles to feet.

1 mile equals 5280 feet.

Thus, 292 miles in feet equals 292 * 5280 = 1541760 feet.

Now, converting 4 hours into seconds.

1 hour translates to 3600 seconds.

Therefore, 4 hours equals 3600 * 4 = 14400 seconds.

The question asks for speed in feet per second.

speed = \frac{distance}{time}

Thus,

\frac{1541760}{14400}

is 107.067 feet per second.

8 0
9 days ago
Of 162 students honored at an academic awards banquet, 48 won awards for mathematics and 78 won awards for English. There are 14
tester [3916]

Answer: 56/81

Step-by-step explanation:

refer to the attached document

3 0
5 days ago
Other questions:
  • If the clothing maker bought 500 m2 of this fabric, how much money did he lose? Use 1tepiz=0.625dollar and 0.9144m=1yard.
    9·2 answers
  • Three classes of school children are selling tickets to the school play. the number of tickets sold by these classes, and the nu
    15·2 answers
  • Given: △ABC, m∠A=60° m∠C=45°, AB=8 Find: Perimeter of △ABC, Area of △ABC
    5·2 answers
  • Anna has two aunts, Gertie and Samantha, and one uncle, Jimbo. Jimbo has a nephew on Anna's Side of the family, Timothy, Who has
    10·2 answers
  • Solve for x<br> zx=5g(2x-c)
    15·2 answers
  • one day, the state fair total attaendance was 126,945. Round to the nearest hundred thousand, nearest ten thousand and nearest t
    14·2 answers
  • Angela makes a pillow in the shape of a wedge to use for watching TV. The pillow is filled with 0.35 m3 of fluffy
    12·1 answer
  • Jeremy drew a polygon with four right angles and four sides with the same length. Name all the polygons that he could have drawn
    8·1 answer
  • Tom says he is comparing banks to see what interest rates they offer on savings accounts. Explain how Tom should use the informa
    10·2 answers
  • Which statements are correct? Check all that apply.
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!