What is the expected value of unit sales

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Reference no: EM132005344

Question: 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 Reactions	Sales in Units	Probabiliites
Low Response	10	.10
Moderate Response	25	.20
High Response	40	.30
Very High Response	65	.40

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.)

b. What is the standard deviation of unit sales? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Reference no: EM132005344

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