15) Myers Business Systems is evaluating the introduction of a new product. The possible levels of unit
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Question:
15)
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 next: |
Possible Market Reaction | Sales in Units | Probabilities | ||||
Low response | 35 | .20 | ||||
Moderate response | 45 | .20 | ||||
High response | 60 | .30 | ||||
Very high response | 80 | .30 |
a. | What is the expected value of unit sales for the new product?(Do not round intermediate calculations and round your answer to the nearest whole unit.) |
Expected value | units |
b. | What is the standard deviation of unit sales?(Do not round intermediate calculations. Round your answer to 2 decimal places.) |
Standard deviation | units |
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