A company is about to launch a new cell phone model. In the past, 40% of its cell phones have launched successfully. Before any cell phone is launched, the company conducts market research and receives a report predicting favorable or unfavorable sales. In the past, 70% of successful cell phones and 20% of unsuccessful cell phones received favorable reports. What is the probability that the new cell phone will receive a favorable report, given that the cell phone launch is successful?
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The given information says that 70% of successful cell phones receive a favorable report. Therefore all you need to do is to convert 70% to a decimal fraction.
Note: The maximum possible value of probability is 1.