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Compute the expected value of unit sales for the new product

Question: Lowe Technology Corp. is evaluating the introduction of a new product. The possible levels of unit sales and the probabilities of their occurrence are given.

Possible                     Sale in
market reaction           Units      Probabilities

Low response           20             .10
MOderate response       40             .20
High response         65             .40
Very high response     80             .30

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

b. What is the standard deviation of unit sales?

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Finance Basics: Compute the expected value of unit sales for the new product

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Finance Basics: Compute the expected value of unit sales for the new product

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