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Myers Business Systems is evaluating the introduction of a new product.

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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 below;Possible Sales;Market Reaction in Units Probabilities;Low response............. 20.10;Moderate response......... 40.30;High response............. 55.40;Very high response......... 70.20;a. What is the expected value of unit sales for the new product?;b. What is the standard deviation of unit sales?

 

Paper#25465 | Written in 18-Jul-2015

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