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A major securities exchange is considering the introduction of a new derivative contract. In the past, the success rate for new derivatives has been 30 percent. Extensive market research has produced a positive marketing research report for the contract under consideration. Historically, 70 percent of the successful contracts have received favorable reports prior to introduction. Only 10 percent of unsuccessful contracts have received favorable reports. What is the probability that the new contract will be successful? A. 87%. B. 75%. C. 13%. D. 25%. |