Question: As Marketing Director at the Hauck Corporation you try to

As Marketing Director at the Hauck Corporation, you try to keep informed about the actions of your main competitor, Campbell Labs. Currently you believe that Campbell may have plans to introduce a significant new product within the next two years. You put the chance of that happening at 30%. You also believe that if Campbell is planning to introduce a new product, there’s a 60% chance that they will build a new plant. If a new product wasn’t being planned, you estimate that the chance Campbell would build a new plant is only 10%. Draw a probability tree and use it to answer the following questions
a. What’s the likelihood that Campbell will build a new plant?
b. Suppose you learn that Campbell is building a new plant. How likely is it that Campbell plans to introduce the new product?

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  • CreatedJuly 16, 2015
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