Question

A consumer product company is considering a new product launch. The​ company’s scenario analysis showed the...

A consumer product company is considering a new product launch. The​ company’s scenario analysis showed the following​ results: if the economy is in​ expansion, the product has

80​%

chance of​ success, and if the economy goes into​recession, the product has only 20​%

chance of success. The Economy​ Ministry’s forecast suggests that in the next​ one-year period there is

60​%

chance of recession.

What is the chance that the new product is not​ successful?

Math   Statistics-And-Probability   
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