Question: table [ [ Possible Market Reaction,Units,Probabilities ] , [ Low response, 4 0 , 0 . 1 0 ] , [ Moderate response, 5

\table[[Possible Market Reaction,Units,Probabilities],[Low response,40,0.10],[Moderate response,55,0.20],[High response,65,0.20],[Very high response,80,0.50]]
a. What is the expected value of unit sales for the new product?
Note: Do not round intermediate calculations and round your answer to the nearest whole unit.
Expected value
68 units
b. What is the standard deviation of unit sales?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
Standard deviation
units
 \table[[Possible Market Reaction,Units,Probabilities],[Low response,40,0.10],[Moderate response,55,0.20],[High response,65,0.20],[Very high response,80,0.50]] a. What is

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!