A worldwide personal products manufacturer is working on a new hair care product.In the past,85 percent of new hair care products introduced by this company have become successful (15 percent have failed).Obviously the marketing research department plays a large role in the introduction of any new product.Historically,85 percent of the successful products have a favorable rating from marketing research studies and 20 percent of the unsuccessful products have favorable ratings.For the new hair care product,the marketing unit has issued a favorable rating.What is the probability that the new product will be successful?

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The Answer of A worldwide personal products manufacturer is working on a new hair care product.In the past,85 percent of new hair care products introduced by this company have become successful (15 percent have failed).Obviously the marketing research department plays a large role in the introduction of any new product.Historically,85 percent of the successful products have a favorable rating from marketing research studies and 20 percent of the unsuccessful products have favorable ratings.For the new hair care product,the marketing unit has issued a favorable rating.What is the probability that the new product will be successful?

A Worldwide Personal Products Manufacturer Is Working on a New