Expected value and standard deviation - Myers Business
Not what you're looking for?
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?
Purchase this Solution
Solution Summary
The Expected value and standard deviation of unit sales are calculated , given the possible levels of unit sales and the probabilities of their occurrence.
Purchase this Solution
Free BrainMass Quizzes
Basics of corporate finance
These questions will test you on your knowledge of finance.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.