- Previous Question The Editor Of A Textbook Publishing Company Is Trying To Decide Whether To Publish A Proposed Business 1 (48.02 KiB) Viewed 89 times
favorable review, the book will break even is (Round to three
decimal places as needed.)
2. The probability that if the proposed textbook receives a
favorable review, the book will be a loser is (Round to three
decimal places as needed.)
3. What proportion of textbooks receives favorable reviews?
Thank you!
Previous Question The editor of a textbook publishing company is trying to decide whether to publish a proposed business hation on previous textbooks published indicate that 10% are huge successes, 20% are modest successes, 40% break even, and 30% are losers. However, before a publishing decision is made, the book will be reviewed. In the past, 97% of the huge successes received favorable reviews, 70% of the moderate successes received favorable reviews, 40% of the break-even books receive favorable reviews, and 20% of the losers received favorable reviews. Complete parts (a) and (b). a. If the proposed textbook receives a favorable review, how should the editor revise the probabilities of the various outcomes to take this information into account? The probability that if the proposed textbook receives a favorable review, the book will be a huge success is 0.212. (Round to three decimal places as needed.) The probability that if the proposed textbook receives a favorable review, the book will be a modest success is 0.306) (Round to three decimal places as needed.) The probability that if the proposed textbook receives a favorable review, the book will break even is (Round to three decimal places as needed.)