Two Professors at a Nearby University Want to Coauthor a New

question 111

Multiple Choice

Two professors at a nearby university want to coauthor a new textbook in either economics or statistics. They feel that if they write an economics book, they have a 50 percent chance of placing it with a major publisher, and it should ultimately sell about 40,000 copies. If they cannot get a major publisher to take it, then they feel they have an 80 percent chance of placing it with a smaller publisher, with ultimate sales of 30,000 copies. On the other hand, if they write a statistics book, they feel they have a 40 percent chance of placing it with a major publisher, and it should result in ultimate sales of about 50,000 copies. If they cannot get a major publisher to take it, they feel they have a 50 percent chance of placing it with a smaller publisher, with ultimate sales of 35,000 copies.
What is the probability that the statistics book would wind up being placed with a smaller publisher?

• A)0.6
• B)0.5
• C)0.4
• D)0.3
• E)0

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Definitions:

Large Audiences

A significantly sized group of people who gather in person or connect via media to receive information, entertainment, or other content.

Three-Step Process

A methodological approach typically broken into three sequential phases to achieve a task or solve a problem.

IM

Represents Instant Messaging, a form of real-time text-based communication between two or more parties.

Digital Communication

The exchange of information through electronic means, such as email, social media, or messaging apps.