A Market Research Firms Conducts Studies Regarding the Success of New

question 49

Multiple Choice

A market research firms conducts studies regarding the success of new products.The company is not always perfect in predicting the success.Suppose that there is a 50% chance that any new product would be successful (and a 50% chance that it would fail) .In the past, for all new products that ultimately were successful, 80% were predicted to be successful (and the other 20% were inaccurately predicted to be failures) .Also, for all new products that were ultimately failures, 70% were predicted to be failures (and the other 30% were inaccurately predicted to be successes) .What is the a priori probability that a new product would be a success?

• A)0.50
• B)0.80
• C)0.70
• D)0.60
• E)0.95

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Definitions:

Occupational Stress

Stress experienced as a result of job-related duties and pressures, which can lead to psychological and physical health issues.

Affective

Relating to moods, feelings, and attitudes; usually describes aspects of emotion or emotional responses.

Physical Exhaustion

A state of extreme physical fatigue resulting from excessive workload, stress, or lack of rest, often leading to reduced performance and health issues.

Emotional Exhaustion

A state of feeling emotionally drained or depleted as a result of accumulated stress from personal or work life.