A Company Is Considering Producing Some New Gameboy Electronic Games

question 113

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 a successful market for the product and the product actually is successful?

• A)0.90
• B)0.54
• C)0.60
• D)0.63

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Definitions:

Internet of Things

An interconnected system of tangible items equipped with monitoring devices, computer programs, and various technologies designed to communicate and share information with other gadgets and systems via the web.

IoT

Internet of Things, a network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, and connectivity, enabling these objects to connect and exchange data.

Dematerialization

The process of reducing the use of physical resources in the production and consumption of goods and services, often through digital means.

Downsides

The negative aspects or disadvantages of a decision, action, or situation.