Myers Business Systems is evaluating the introduction of a new product. The possible levels of unit sales
Fantastic news! We've Found the answer you've been seeking!
Question:
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 ReactionSales in
UnitsProbabilitiesLow response20.30Moderate response35.20High response45.20Very high response60.30
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.)
b.What is the standard deviation of unit sales?(Do not round intermediate calculations. Round your answer to 2 decimal places.)
Posted Date: