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Qhat is the probability that product will be successfully

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Reference no: EM132529300

A company plans to launch a new product. They have traditionally had a 60% success rate with the launch of new products. Market research predicts and a positive test market results is 80% of successfully launched products and a positive market result for 30% of failed products launched.

a) If a market test result comes back negative, what is the probability that the product will be successfully launched?

Reference no: EM132529300

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