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Mathematics, 31.03.2020 01:30, jaheimnorman590
A casino knows that people play slot machines in hopes of hitting the jackpot but that most of them lose their dollar. Suppose that a certain slot machine pays out an average of $0.95 with a standard deviation of $105. a) Why is the standard deviation so large? b) If the machine is played 5 times, what are the mean and standard deviation of the casino's profit? c) If gamblers play this machine 1000 times in a day, what are the mean and standard deviation of the casino's profit? d) Is the casino likely to be profitable?
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