Sampson Corp. is evaluating the introduction of a new product. The possible levels of unit...
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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 shown next Possible Market Reaction Low response Moderate response High response Very high response Sales in Units 70 100 110 120 Probabilities 0.50 0.20 0.10 0.20 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 2 decimal places.) Standard deviation units
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