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A video rental store has two video cameras available for customers to rent. Historically, demand for cameras has followed this distribution. The...

5. A video rental store has two video cameras available for customers to rent. Historically, demand for cameras has followed this distribution. The revenue per rental is $40. If a customer wants a camera and none is available, the store gives a $15 coupon for tape rental.

Demand Relative Frequency Revenue Cost
0 .35 0 0
1 .30 40 0
2 .20 80 0
3 .10 80 15
4 .05 80 30

a. What is the expected demand?
b. What is the expected revenue?
c. What is the expected cost?
d. What is the expected profit?

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Statistics and Probability-8081965.docx

8081965
5. A video rental store has two video cameras available for customers to rent.
Historically, demand for cameras has followed this distribution. The revenue per rental is
$40. If a customer...

Sign up to view the full answer

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