2. Operations Management
3. a candy company developed a new consumer product that is...

# Question: a candy company developed a new consumer product that is...

###### Question details

A candy company developed a new consumer product that is expected to earn ​$7 in profit each year if consumer demand is​ low, ​$17 per year if consumer demand is​ moderate, and

​\$36 per year if consumer demand is high. The probability of​ low, moderate, and high demand is 35%, 45​%, and 20​%, respectively. Determine the expected monetary value​ (EMV) for the new product.