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1. Myers Business Systems is evaluating the introduction of a new product. The possible levels of unit...

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1. Myers Business Systems is evaluating the introduction of a new product. The possible levels of unit sales and the probabilities of their occurrence are given below:

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a. What is the expected value of unit sales for the new product?

b. What is the standard deviation of unit sales?

Transcribed Image Text:

Possible Sales Market Reaction in Units Probabilities Low response 20 .10 Moderate response 40 .30 High response 55 .40 Very high response 70 .20

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