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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 given
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 | 20 | .30 | ||||
Moderate response | 35 | .20 | ||||
High response | 50 | .20 | ||||
Very high response | 90 | .30 |
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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