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Question # 00012103
Subject: Statistics
Due on: 04/12/2014
Posted On: 04/11/2014 05:40 PM

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1. You are the owner of a small casino in Las Vegas and you would like to reward the high-rollers who come to your casino. In particular, you want to give free accommodations to no more than 10% of your patrons. Suppose that the amount wagered by patrons follows a normal distribution. The mean amount wagered by all patrons is $287 with a standard deviation of $15. You should give free accommodations to those individuals who wager over how much money?
(5 points.)

Tags statistics patrons casino accommodations free mean distribution normal amountwagered deviation money points wager thoseindividuals followsa standard youare reward like vegas small thehighrollerswho come suppose owner want particularyou wagered

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small_casino_in_Las_Vegas.docx (13.14 KB)
Preview: money?SolutionP(X>k) x 0 xx P(Z>(k-287)/15) = x 10(k-287)/15) = x 28 x x $306 xxxxxx accommodation can xx given to xx more xxxx xxx Lets xxxxxx K as xxxxxxxxxxx.....
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