Question: I need to know the steps to solve the below problem using excel. A consumer products company found that 48% of successful products also received
I need to know the steps to solve the below problem using excel.
A consumer products company found that 48% of successful products also received favorable results from test market research, while 12% had unfavorable results but nevertheless, were successful. They also found that 28% of unsuccessful products had unfavorable research results, while 12% of them had favorable research results. Construct the joint probability distribution for the two random variables: product success and test market research results.
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