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Three groups A, B & C are competing for positions on the board of directors of a company. The probabilities of their joining are 0.5, 0.3, 0.2 respectively. If group A wins, the probability of introducing a new product is 0.7 & the corresponding probability for group B & C are 0.6 and 0.5 respectively. Find the probability that, new product will be introduced if the answer can be expressed as 0.07 k Then k =?

Class: Grade 10

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Detailed Solution

Let h be the event that a new product is introduced.
Then P(A)=0.5, P(B)=0.3, P(C) = 0.2
and P(E/A) = 0.7 P(E/B) = 0.6 P(E/C) = 6.5
Since A, B & C are mutually exclusive.

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