Business, 03.03.2020 23:02 jet0120996

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:

Possiable Market Reaction Sales in Units Probabilites
Low Response 20 0.10
Moderate Response 40 0.30
Hight Response 55 0.40
Very High Response 70 0.20
a. What is the expected value of sales for the new product?

b. What is the standard deviation of unit sales?

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Myers Business Systems is evaluating the introduction of a new product. The possible levels of unit...