Lowe Tech Co. is evaluating the introduction of a new product. The possible le

Lowe Tech Co. 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 Units_____________Probabilities

Low Response_____________________30______________________.30

Moderate Response_________________45______________________.20

High Response_____________________55______________________.20

Very high response_________________70_______________________.30

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

b . What is the standard deviation of unit sales?