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Sampson Corp. is evaluating the introduction of a new product. The possiable levels of unit sales and the probabilities of their occurrence are shown next:

Sampson Corp. is evaluating the introduction of a new product. The possiable levels of unit sales and the probabilities of their occurrence are shown next:

Possible Market Reaction Sales in units Probabilities
Low Response 30 0.10
Moderate response 50 0.20
High Response 75 0.40
Very High Response 90 0.30

a. What is the expected value of unit sales for the new product?

b. What is the standard deviation of unit sales?

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