Northern Wind Power, a new age energy company, is considering the introduction of a product...

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Finance

Northern Wind Power, a new age energy company, is considering the introduction of a product intended to use wind as an energy-producing device. The possible levels of unit sales and the probabilities of occurrence are given.

Acceptance Potential Sales in Units Probabilities
Low 50 0.10
Moderate 70 0.40
Strong 90 0.20
Very strong 140 0.30

a. What is the expected value of unit sales for the new product?

Expected value

b. What is the standard deviation of unit sales? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)

Standard deviation

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