Question

d. Find the probability that a customer rents at most two DVDs. (Give your answer as a decimal) Answer: 0.80

Ask by Higgins Carroll. in the United States
Feb 04,2025

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The probability that a customer rents at most two DVDs is 0.80.

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The Deep Dive

To better understand this probability, let's consider how the data might have been derived. If the customer rental behavior was analyzed using a standard distribution or historical rental data, the probability could be calculated by summing the likelihoods of renting 0, 1, or 2 DVDs together. For instance, if the chances of renting each amount are known (such as from previous rentals), you can essentially add up these probabilities to find the likelihood of a customer renting at most 2 DVDs. In practical terms, if you're running a rental service, you could use this probability to forecast inventory needs. Knowing that 80% of your customers typically rent 0 to 2 DVDs allows you to better manage stock levels and ensure customer satisfaction. For instance, if you know a certain movie is popular, you can prioritize stocking it based on these trends!

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