Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

not sure why my answer is wrong. i did all the calucations. Myers Business Systems is evaluating the introduction of a new product. The possible

not sure why my answer is wrong. i did all the calucations. image text in transcribed
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 TT Possible Market Reaction Low response Moderate response High response Very high response Sales in Units 40 55 65 80 Probabilities 10 20 20 50 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.) Expected value 192 units b. What is the standard deviation of unit sales? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Standard deviation 13.87 units

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Private Equity Edge How Private Equity Players And The Worlds Top Companies Build Value And Wealth

Authors: Arthur B. Laffer,William J. Hass, Shepherd G. Pryor

1st Edition

0071590781,0071642927

More Books

Students also viewed these Finance questions

Question

3. Discuss the role of the American Nurses Association.

Answered: 1 week ago