36. Casino. Acasino knows that people play the slot
Chapter 16, Problem 36(choose chapter or problem)
36. Casino. Acasino knows that people play the slot machinesin hopes of hitting the jackpot but that most ofthem lose their dollar. Suppose a certain machine pays outan average of $0.92, with a standard deviation of $120.a) Why is the standard deviation so large?b) If you play 5 times, what are the mean and standarddeviation of the casinos profit? c) If gamblers play this machine 1000 times in a day,what are the mean and standard deviation of thecasinos profit?d) Is the casino likely to be profitable? Explain
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