A Company Is Considering Producing Some New Gameboy Electronic Games

question 115

Multiple Choice

A company is considering producing some new Gameboy electronic games.Based on past records, management believes that there is a 70 percent chance that each of these will be successful and a 30 percent chance of failure.Market research may be used to revise these probabilities.In the past, the successful products were predicted to be successful based on market research 90 percent of the time.However, for products that failed, the market research predicted these would be successes 20 percent of the time.If market research is performed for a new product, what is the probability that the results indicate an unsuccessful market for the product and the product is actually unsuccessful?

• A)0.63
• B)0.06
• C)0.07
• D)0.24

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Definitions:

Mintzberg

Henry Mintzberg, a renowned academic and author, known for his work on business and organizational strategy, as well as the classification of managerial roles and organizational structures.

Intuition

The ability to understand or know something immediately based on one's feelings rather than conscious reasoning.

Committed Employees

Workers who are emotionally attached to their jobs and organization, demonstrating loyalty and a high level of engagement.

Reported Absenteeism

The act of documenting and tracking the instances when employees are absent from work without valid reasons.