Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 1 Day Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 13 Oct 2017 My Price 5.00

Casino gaming yields

Casino gaming . Casino gaming yields over $35 billion in revenue each year in the United States. In Chance (Spring 2005), University of Denver statistician R. C. Hannum discussed the business of casino gaming and its reliance on the laws of probability. Casino games of pure chance (e.g., craps, roulette, baccarat, and keno) always yield a “house advantage.” For example, in the game of double-zero roulette, the expected casino win percentage is 5.26% on bets made on whether the outcome will be either black or red. (This percentage implies that for every $5 bet on black or red, the casino will earn a net of about 25 cents.) It can be shown that in 100 roulette plays on black/red, the average casino win percentage is normally distributed with mean 5.26% and standard deviation 10%. Let x represent the average casino win percentage after 100 bets on black/red in double-zero roulette

a. Find P(x > 0). (This is the probability that the casino wins money.)

b. Find P(5

c. Find P(x

d. If you observed an average casino win percentage of -25% after 100 roulette bets on black/red, what would you conclude?

Answers

Maurice Tutor
(5)
Status NEW Posted 13 Oct 2017 04:10 PM My Price 5.00

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