Two groups are competing for the position on the Board of directors of a corporation. The probabilities that the first and the second groups will win are 0.6 and 0.4 respectively. Further, if the first group wins, the probability of introducing a new product is 0.7 and the corresponding probability is 0.3 if the second group wins. Find the probability that the new product introduced was by the second group.

Explanation

To solve the problem, we will use Bayes' theorem. Let's denote the events as follows:

- Event A: The first group wins.
- Event B: The second group wins.
- Event N: A new product is introduced.

Given data:
- Probability that the first group wins, \( P(A) = 0.6 \)
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