Use the Information Below to Answer the Following Questions)

question 3

Multiple Choice

Use the information below to answer the following questions)
Misty Inc. launches a new range of perfumes for men and women. The probability of high consumer demand for the product is 0.6 and low consumer demand is 0.4. The probability of a favorable survey response given high consumer demand is 0.9 and the probability of a favorable survey response given low consumer demand is 0.2.
-What is the likelihood for high demand knowing that the market report is favorable?

• A) 84%
• B) 90%
• C) 87%
• D) 80%

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Definitions:

Co-optation

A strategy by which a group assimilates or takes over elements of another, often to neutralize or gain support.

Mass Movements

Large groups of people engaging collectively in political, social, or cultural campaigns to bring about or resist change in society.

Offers of Reforms

Proposals or pledges to make changes or improvements, typically in political, social, or economic systems.

Compounded Semiannually

Interest on an investment that is calculated twice a year and added to the principal sum.