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Assume that in a given market 75 of new products fail and

Assume that, in a given market, 75% of new products fail and are removed from production within 2 years. Your firm is bringing a new product, Sport-String Extreem (TM), to market. If 30% of products which fail within 2 years and 80% of products which do not fail within 2 years have an initial sales volume similar to that of Sport-String Extreem (TM), what is the probability that your product will fail within 2 years (to the nearest percent)? A. 23% B. 20% C. 75% D. 60% E. 53%

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