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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 coresponding probability is 0.3 if the second group wins. Find the probability that the new product introduced was by the second group. |
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