Textbook publishers must estimate the sales of new (first-edition) books. The records of one major publishing company indicate that 10% of all new books sell more than projected, 30% sell close to the number projected, and 60% sell less than projected. Of those that sell more than projected, 70% are revised for a second edition, as are 50% of those that sell close to the number projected and 20% of those that sell less than projected.
a. What percentage of books published by this publishing company go to a second edition?
b. What percentage of books published by this publishing company that go to a second edition sold less than projected in their first edition?