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A company has 2 machines that produce widgets. An older machine produces 23% defective widgets, while the new machine produces only 8% defective widgets. In addition, the new machine produces 3 times as many widgets as the older machine does. Given a randomly chosen widget was tested and found to be defective, what is the probability it was produced by the new machine?
SWOT Analysis
A tool for strategic planning that helps determine the Strengths, Weaknesses, Opportunities, and Threats connected to competing in business or planning projects.
Environmental Scanning
The act of monitoring developments outside the firm’s control with the goal of detecting and responding to threats and opportunities.
SWOT Analysis
A strategic planning tool used to identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.
Environmental Scanning
The process of systematically gathering, analyzing, and managing external information about the factors that could impact an organization's future plans.
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