Question
Northern Wind Power, a new age energy company, is considering the introduction of a product intended to use wind as an energy-producing device. The possible
| Northern Wind Power, a new age energy company, is considering the introduction of a product intended to use wind as an energy-producing device. The possible level of unit sales and the probability of their occurrence are given. |
| Acceptance potential | Sales in units | Probabilities | ||||
| Low | 50 | .10 | ||||
| Moderate | 70 | .40 | ||||
| Strong | 90 | .20 | ||||
| Very strong | 140 | .30 | ||||
| | ||||||
| (a) | What is the expected value of unit sales for the new product? |
| Expected value |
| (b) | What is the standard deviation of unit sales?(Round your answer to 2 decimal places.) |
| Standard deviation |
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Business Of Sport Management
Authors: John Beech, Simon Chadwick
2nd Edition
027372133X, 9780273721338
