Question 16

Myers Business Systems is evaluating the introuction of a new product. The possible levels of unit sales and the probabilities of their occurrence are given next: Sales in Possible Market Reaction to response Moderate response Bigh response Very high response Units 30 45 50 75 Probabilities 0.30 0.20 0.30 0.20 2. What is the expected value of unlt sales for the new product? (Do not round intermediate calculations and round your answer to the nearest whole unit.) Expected value units b. What is the standard deviation of unit sales? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Standard deviation unite