Question: Q 1 ) - ( Jurassic Park ) : A small video store has nine copies of the DVD Jurassic Park, in its store. There
QJurassic Park: A small video store has nine copies of the DVD Jurassic Park, in its store. There are customers every day who request this movie for their children. If the movie is not on the shelf, they leave and go to a competing store. Customers arrive evenly distributed over hours, and their arrival rate can be assumed to be following the Poisson distribution. The average rental duration is hours.a What is the likelihood that a customer going to the video store will find the movie available?b Assume each rental is $ How much revenue does the store make per day from the movie?c Assume each customer that is not able to obtain the movie will receive a $ bill. How much moneywould the store have to give out to customers requesting Jurassic Park every day?d Assume the demand for the movie will stay the same for another six months. What would be thepayback time not considering interest rates for purchasing an additional copy of the movie at $ Consider the extra revenues related to part b and the potential cost savings part c
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