Use the Information Below to Answer the Following Question(s)

question 14

Multiple Choice

Use the information below to answer the following question(s)
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:

Primacy Effect

The psychological phenomenon whereby the first items presented in a list are remembered more easily than those in the middle.

Recency Effect

A memory bias that occurs when the most recently presented items or experiences are more likely to be remembered than those presented earlier.

Individual's Psychology

A psychological perspective focusing on the unique experiences and motivations of an individual, often associated with Alfred Adler.