Three groups A, B, C are competing for positions of the Board of Directors of a company. The probabilities of their winning are 0.5, 0.3, 0.2 respectively. If the group A wins, the probability of
introducing a new product is 0.7 and the corresponding probabilities for group B and C are 0.6 and 0.5 respectively. The probability that the new product will be introduced, is-
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Answer:
Probability = 0.54
Step-by-step explanation:
Probability that the new product will be increased will be probability that one among A, B, C wins it and their respective probabilities of introducing the new products.
0.5×0.7 + 0.3×0.6 +0.2×0.5
=0.35+0.18+0.1
=0.54
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