Question

Two groups are competing for the positions on the board of directors of a corporation. The probabilities that the first and the second groups will win are 0.6 and 0.4 respectively. Further, if the first group wins, the probability of introducing a new product is 0.7 and when the second group wins, the corresponding probability is 0.3. Find the probability that the new product introduced was by the second group. Select the correct answer from above options

Answer 1

Consider F as first group, S as second group and N as introducing a new product Here we should determine P (S/N) – New product introduced by the second group Substituting the values So we get = 0.12/0.54 = 2/9 Hence, the probability of the second group introduced a new product is 2/9.