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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 levels of unit sales and the probabilities of occurrence are given. Acceptance Potential Low Moderate Strong Very strong Sales in Units 50 80 100 110 Probabilities 0.50 0.30 0.10 0.10 a. What is the expected value of unit sales for the new product? Expected value b. What is the standard deviation of unit sales? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Standard deviation
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