Question

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?

Answer 1

`Probability = 0.198`

Explanation:

Given

Publish

`Huge\ Success = 20\%`

`Modest\ Success = 30\%`

`Break\ Even = 30\%`

`Losers = 20\%`

Favorable Reviews:

`Huge\ Success = 99\%`

`Modest\ Success = 60\%`

`Break\ Even = 40\%`

`Losers = 30\%`

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;

`Probability = 20\% * 99\%`

`Probability = 0.198`