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problem: Myers Business Systems is estimating the introduction of a brand new product. The possible levels of unit sales and the probabilities of their occurrence are given below:

Possible Market Reaction	Sales in Units	Probabilities
Low response	20	0.1
Moderate response	40	0.3
High response	55	0.4
Very high response	70	0.2

[A] Determine the expected value of unit sales for the new product?
[B] Determine the standard deviation of unit sales?

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M916905

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