Burger city

by | Jan 11, 2022 | Assignment

Burger City is the general manager of a project consulting company in Midrand. A mathematical model is now used in this company to predict the success of a potential project to be embarked on using various criteria. In the past 65% of all similar projects embarked on in this company were successful. The mathematical model has been tested in the exciting projects to determine how effective it is. For the project that were successful, 82% of the time, the model predicted there would be, while 27% of the time the model predicted the failure of such projects. For the projects that were not successful when the mathematical model was applied, 30% of the time it incorrectly predicted as a successful project, while 70% of the time it was accurate and predicted unsuccessful projects. If the model is used in a new project consulting company in Cape town and the model predicts that the project in this company will be successful, what the probability that the project will be actually be successful?

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