Suppose a video store charges non-members $4 to rent a video. A membership costs $21 and then videos cost only $2.50 to rent. Ho
1 answer:
Answer:
You need to rent 14 videos, and you'll pay the same amount for both. Renting 15 will make the membership a better method of payment.
Step-by-step explanation:
Let Number of videos to be rented be x;
Given:
For non members;
Cost of renting 1 video = $4
Cost for renting x videos =
For Members;
Membership cost = $21
Cost of renting 1 video = $2.50
Cost of renting x video =
We can create an equation. Say the number of videos you rent is given by x
. We can write that, if we rent x videos without membership, we'll have to pay
. If we rent the same amount of videos with membership, we'll have to pay
.
Hence the equation can written as
Hence You need to rent 14 videos, and you'll pay the same amount for both. Renting 15 will make the membership a better method of payment.
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Answer:
Step-by-step explanation:
Previous concepts
The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".
Solution to the problem
Let X the random variable of interest, on this case we now that:
The probability mass function for the Binomial distribution is given as:
For this case we want this probability:
And we can use the complement rule like this:
And we can find the individual probabilities like this:
And in order to do the operations we can use the following excel code:
"=1-BINOM.DIST(8,25,0.3089,TRUE)"
And we got: