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The editor of a publishing company is trying to decide whether to publish a proposed Business Statistics textbook

Statistics

The editor of a publishing company is trying to decide whether to publish a proposed Business Statistics textbook. Information on previous
textbooks published indicate that 10% are huge successes, 20% are modest successes, 40% break even, and 30% are losers. However, before
a decision is made, book will be reviewed. In the past, 99% of the huge successes received favourable reviews, 70% of the moderate
successes received favourable reviews, 40% of the break-even books received favourable reviews, & 20% of the losers received favourable
reviews. If the proposed textbook receives a favourable review, how should the editor revise the probabilities of the various outcomes to
take this information into account? What proportion of the textbooks receive favourable reviews?

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