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Lowe Corporation is planning a new product. The possible levels of unit sales and the probabilities of their occurrence are given below. What is the
Lowe Corporation is planning a new product. The possible levels of unit sales and the probabilities of their occurrence are given below. What is the expected value of the new product?
Possible Market Reaction | Sales in Units | Probabilities |
Low Response | 20 | .10 |
Moderate Response | 40 | .20 |
High Response | 65 | .40 |
Very High Response | 80 | .30 |
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