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Sampson Corp. is evaluating the introduction of a new product. The possible levels of unit sales and the probabilities of their occurrence are given....
Sampson Corp. is evaluating the introduction of a new product. The possible levels of unit sales and the probabilities of their occurrence are given.
Possible
Market Reaction
Sales
in UnitsProbabilities Low response 60 .10 Moderate response 80 .30 High response 110 .50 Very high response 150 .10
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.)
Expected value units
b.What is the standard deviation of unit sales? (Do not round intermediate calculations. Round your answer to
