saramarkos68 saramarkos68

04-01-2024
Business

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A firm is planning to introduce a new product. The probability that the product will be successful if a competitor does not come up with a similar product is 0.67. The probability that the new product will be successful in the presence of a competitor new product is 0.42. The probability that the competing firm will come out with a new product during the period is question is 0.35. What is the probability that the product will be a success?

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