© examsnet.com
Question : 23
Total: 29
Two groups are competing for the position on the Board of Directors of a corporation. The probabilities that the first and the second groups will win are 0.6 and 0.4 respectively. Further, if the first group wins, the probability of introducing a new product is 0.7 and the corresponding probability is 0.3 if the second group wins. Find the probability that the new product was introduced by the second group.
Solution:
Let E 1 be the event of the first group winning and E 2 be the event of the second group winning and S be the event of introducing a new product.
P(E 1 ) = 0.6 P(E 2 ) = 0.4
P (S|E 1 ) = 0.7
P (S|E 2 ) = 0.3
Probability of a new product being introduced by the second group will be , P (E 2 |S)
P (E 2 |S) =
=
=
P (E 2 |S) =
=
P(
P (S|
P (S|
Probability of a new product being introduced by the second group will be , P (
P (
=
=
P (
© examsnet.com
Go to Question: