An editor may use all, some, or none of three possible strategies to enhance the sales of a book: a. An expensive prepublication promotion b. An expensive cover design c. A bonus for sales representatives who meet predetermined sales levels
In the past, these three strategies have been applied simultaneously to only 2% of the company's books. Twenty percent of the books have had expensive cover designs, and, of these, 80% have had expensive prepublication promotion. A rival editor learns that a new book is to have both an expensive prepublication promotion and an expensive cover design and now wants to know how likely it is that a bonus scheme for sales representatives will be introduced. Compute the probability of interest to the rival editor.