XYZ rents dishwashers with the option of converting rental into a purchase. They sign

Question: XYZ rents dishwashers with the option of converting rental into a purchase. They sign 2,000 new leases every month, each for a 2-month period. On average 10% of customers convert their rental to purchase at the end of the first month, and 5% of customers purchase the dishwasher at the end of the second month. The rest of customers return their dishwashers at
Show transcribed image text 100% (1 rating)New leases every month – 2000 units for two months 10% of customer purchase at the end of first month 5% of customer pu…View the full answerTranscribed image text: XYZ rents dishwashers with the option of converting rental into a purchase. They sign 2,000 new leases every month, each for a 2-month period. On average 10% of customers convert their rental to purchase at the end of the first month, and 5% of customers purchase the dishwasher at the end of the second month. The rest of customers return their dishwashers at the end of the 2-month contract. In order to provide a good service, XYZ holds an inventory of 1500 dishwashers at its warehouse. Calculate the average number of dishwashers XYZ own.