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Business, 11.08.2021 18:40 bain80

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: Possible Market Reaction Sales in Units Probabilities
Low response 20 10
Moderate response 40 30
High response 55 40
Very high response 70 20

Required:
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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Answers: 2

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