Northern Wind Power, a new age energy company, is considering the introduction of a product...
60.1K
Verified Solution
Link Copied!
Question
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
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
