The editor of a textbook publishing company is deciding whether to publish a proposed textbook. Information on previous textbooks published show that 20 %20% are huge successes, 30 %30% are modest successes, 30 %30% break even, and 20 %20% are losers. Before a decision is made, the book will be reviewed. In the past, 99 %99% of the huge successes received favorable reviews, 60 %60% of the moderate successes received favorable reviews, 40 %40% of the break-even books received favorable reviews, and 30 %30% of the losers received favorable reviews. If the textbook receives a favorable review, what is the probability that it will be huge success?

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MrRoyal MrRoyal · Answer 1 · 2020-10-21T15:15:07+02:00

Answer:

[tex]Probability = 0.198[/tex]

Step-by-step explanation:

Given

Publish

[tex]Huge\ Success = 20\%[/tex]

[tex]Modest\ Success = 30\%[/tex]

[tex]Break\ Even = 30\%[/tex]

[tex]Losers = 20\%[/tex]

Favorable Reviews:

[tex]Huge\ Success = 99\%[/tex]

[tex]Modest\ Success = 60\%[/tex]

[tex]Break\ Even = 40\%[/tex]

[tex]Losers = 30\%[/tex]

Required

Determine the probability that a textbook is huge success and favorable

To do this, we simply multiply the probability of a textbook being huge success and being favorably reviewed. as follows;

[tex]Probability = 20\% * 99\%[/tex]

[tex]Probability = 0.198[/tex]