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Myers Business Systems is evaluating the introduction of a new product. The possible levels of unit sales and the probabilities of their occurrence are
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. Low response Moderate response High response Very high response Sales in Units Probabilities 25 0.20 40/ 0.40 70 0.20 85 0.20 a. What is the expected value of unit sales for the new product? Note: 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? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Standard deviation units:
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