Question

Customers are used to evaluate preliminary product designs. In the past, 95% of highly successful products...

Customers are used to evaluate preliminary product designs. In the past, 95% of highly successful products received good reviews, 60% of moderately successful products received good reviews, and 10% 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.

  1. Calculate the probability that a product attains a good review.
  1. If a new design attains a good review, determine the probability that it will be a highly successful product.
  1. If a product does not attain a good review, determine the probability that it will be a moderately successful product.

Please answer all question above. need proper solution with step by step.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1


0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Customers are used to evaluate preliminary product designs. In the past, 95% of successful products received...
Customers are used to evaluate preliminary product designs. In the past, 95% of successful products received good reviews, 10% of unsuccessful products received good reviews. In addition, 40% of products have been successful, 60% of products have been unsuccessful. a. What is the probability that a product gets a good review? b. If a new design gets a good review, what is the probability that it will be a successful product?
Customers are used to evaluate preliminary product designs. In the past, 90% of successful products received...
Customers are used to evaluate preliminary product designs. In the past, 90% of successful products received good reviews, 5% of unsuccessful products received good reviews. In addition, 40% of products have been successful, 60% of products have been unsuccessful. a. What is the probability that a product gets a good review? b. If a new design gets a good review, what is the probability that it will be a successful product?
Research suggests that it takes about 3,000 raw, unwritten ideas to produce a single, commercially-successful new...
Research suggests that it takes about 3,000 raw, unwritten ideas to produce a single, commercially-successful new product. To learn marketing lessons and convert potential failures to successes, we can analyze why new products fail and then study several failures in detail. Both marketing and nonmarketing factors contribute to new-product failures. Using the research results from several studies on new-product success and failure, we can identify critical marketing factors—which sometimes overlap—that often separate new-product winners and losers: 1. Insignificant point of...
CASE STUDY RENDEZWOLF Entrepreneurs create minimal viable products to allow them to test their product with...
CASE STUDY RENDEZWOLF Entrepreneurs create minimal viable products to allow them to test their product with real customers as quickly as possible. Testing the product this way helps to determine whether consumers really want the product, provides feedback from these customers to help improve the product, and gathers hard data that demonstrates the proof of concept many investors want before they fund an emerging business. Judson Aikens wanted to start a business but had a good paying job and was...
GoodClothes and MIS: Case from struggle to revamp Headquartered in Dubai, GoodClothes is a highly successful...
GoodClothes and MIS: Case from struggle to revamp Headquartered in Dubai, GoodClothes is a highly successful department retailer offering completely designed casual clothing and accessories. The company operates 10 stores in all seven emirates and 1 store in Al Ain. The company owns 6 stores and franchises 5. For some time, marketing managers targeted population between the ages 40 and 60 who like loose, comfortable clothes. Then, management was tempted to stock its stores with clothes for a younger population...
Your first assignment in your new position as assistant financial analyst at Caledonia Products is to...
Your first assignment in your new position as assistant financial analyst at Caledonia Products is to evaluate two new​ capital-budgeting proposals. Because this is your first​ assignment, you have been asked not only to provide a recommendation but also to respond to a number of questions aimed at assessing your understanding of the​ capital-budgeting process. This is a standard procedure for all new financial analysts at​ Caledonia, and it will serve to determine whether you are moved directly into the​...
Case Study: Amway – Developing Competitive Marketing strategies Introduction All organizations face an external business environment...
Case Study: Amway – Developing Competitive Marketing strategies Introduction All organizations face an external business environment that constantly changes. Sometimes these changes are slight e.g. minor amendments to regulations or a new firm entering the market as a 'small player'. At other times, however, changes in the environment may have important consequences for an organization, e.g. new technologies, changing consumer tastes or a merger between two large competitors. Changes in the business environment create both opportunities and threats to an...
In February 2012, the Pepsi Next product was launched into the US market. This case study...
In February 2012, the Pepsi Next product was launched into the US market. This case study provides students with an interesting insight into PepsiCo’s new product process and some of the challenging decisions that they faced along the way. Pepsi Next Case Study Introduction Pepsi Next was launched by PepsiCo into the US market in February 2012, and has since been rolled out to various international markets (for instance, it was launched in Australia in September 2012). The new product...
Susan Thomas is the vice president for human resources at National Products, a manufacturing company with...
Susan Thomas is the vice president for human resources at National Products, a manufacturing company with 500 employees. The company has an opening for a general manager in one of its product divisions, and the president asked Susan to review the backgrounds of three department managers who are interested in being promoted to this position. She is expected either to recommend one of the three internal candidates or to begin recruitment of external candidates. The internal candidates are Charley Adams,...
How can differential analysis be applied here to determine if it would be profitable to invest...
How can differential analysis be applied here to determine if it would be profitable to invest in new equipment to increase capacity for a constrained resource? KRAYDEN’S CYCLE COMPONENTS INTRODUCTION: COMPANY, PRODUCT, AND SUPPLY CHAIN Krayden’s Cycle Components (KCC) is a high-end specialty fabricator that manufactures one product with many variants. The basic product is known as a rolling chassis, a key component used in manufacturing motorcycles. While there are variations across the industry, a rolling chassis typically consists of...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT