Two Professors at a Nearby University Want to Coauthor a New

question 60

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 economics book would wind up being placed with a smaller publisher?

• A)0.8
• B)0.5
• C)0.4
• D)0.2
• E)0.1

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Definitions:

Standard Form A

A specific variation of standard form, often used to denote a particular method or structure of presenting equations or arguments.

Particular Negative

A logical statement that asserts the non-existence of some instances of a class or category.

Universal Affirmative

A logical statement that asserts something is true of all members of a particular category or class.

Categorical Propositions

Statements that assert or deny something about all members of a category, involving a subject and a predicate that relates to the subject.