Two groups are competing for the positions of 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

Let, the events that the first group and the second group win be denoted by `A` and `B` respectively.

Then, it is given that,

`P(A)=0.06`

`P(B)=0.04`

Now, if the event of introducing a new product is denoted by `N`.

Then, according to the question,

`P(N|A)=0.07`

`P(N|B)=0.03`

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