Two Professors at a Nearby University Want to Co-Author a New

question 55

Multiple Choice

Two professors at a nearby university want to co-author a new textbook in either economics or statistics. They feel that if they write an economics book they have a 50% chance of placing it with a major publisher where it should ultimately sell about 40,000 copies. If they can't get a major publisher to take it, then they feel they have an 80% chance of placing it with a smaller publisher, with sales of 30,000 copies. On the other hand if they write a statistics book, they feel they have a 40% chance of placing it with a major publisher, and it should result in ultimate sales of about 50,000 copies. If they can't get a major publisher to take it, they feel they have a 50% 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:

Inequalities

The condition of lacking equality, particularly in terms of status, rights, and chances.

Dominant Response

The most likely reaction or behavior to occur in a given situation, often under conditions of stress or high arousal.

Fierce Resolve

Strong determination or unwavering firmness in pursuing a goal or overcoming challenges.

Narcissism

A personality trait characterized by an inflated sense of self-importance, a deep need for admiration, and a lack of empathy for others.