Based on the following prompt: $["$create a table that shows an example of a customer lifetime profitability calculation for a restaurant"$],$ ChatGPT has produced the following reply:

Customer Name Number of Visits per Year Average Spend per Visit Average Margin per Visit Customer Lifetime Lifetime Value

John $12$ $$20$ $$105$ years $$1,200$

Jane $6$ $$40$ $$203$ years $$720$

Bob $4$ $$30$ $$152$ years $$240$

In this example, we have three customers: John Smith, Jane Doe, and Bob Johnson. For each customer, we have their number of visits per year, average spend per visit, and average margin per visit. Using this information, we can calculate the customer lifetime value, which is the total amount of profit a customer is expected to generate over their lifetime at the restaurant.

a$)$ Find at least three arguments why this answer is faulty $/$ insufficient.

b$)$ moving away from the example above, briefly explain how customer lifetime considerations may help to drive marketing decision making for a new movie streaming service.

Question $43$ options: