The new lucky lady casino wants to increase revenue by providing buses that can transport gamblers from
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Question:
The new lucky lady casino wants to increase revenue by providing buses that can transport gamblers from other cities. Research shows that these gamblers tend to be older;they tend to play slot machines only, and they have losses with a mean of $182 and a standard deviation of $105. The buses carry 35 gamblers per trip. The casino gives each bus passenger $50 worth of vouchers that can be converted to cash, so the casino needs to recover that cost in order to make a profit. Find the probability that if a bus filled with 35 passengers, the mean amount lost by a passenger will exceed$50. Based on the result, does the casino gamble when it provides such buses?
Related Book For
Essentials of Statistics for the Behavioral Sciences
ISBN: 978-1285056340
8th Edition
Authors: Frederick J Gravetter, Larry B. Wallnau
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