How can I use Excel to solve this?: ABC Company is ready to launch a new product

Question

How can I use Excel to solve this?:

ABC Company is ready to launch a new product domestically. Historically, the companies products have been successful domestically 92% of the time. This new product has been sold overseas for the past 6 months as this has been the traditional market strategy (test a product overseas before bringing it to the domestic market). Historically, products which are successful domestically were successful in the international market 82% of the time. Conversely, products which fail domestically had already failed internationally 93% of the time. Determine the probability that this new product will be successful domestically if the product has not been successful overseas. Indicate your answer to four decimal places (i.e. 0.0001).

Explanation / Answer

probabilty that product has not been succesful =not successful domestically as well in overseas+successful domestically and not successful in overses =0.93*(1-0.92)+0.92*(1-0.82)=0.24

therefore probability that this new product will be successful domestically if the product has not been successful overseas =0.92*(1-0.82)/0.24=0.69

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