1.Suppose you play a game at Encore 400 times. You bet one dollar per game. If you win, you win 7 dollars. If you lose, you lose the dollar. You have a 1 in 10 chance to win. Describe the box model from the casino perspective. Specify the number of tickets and the value of each ticket. On average, what is the net gain of the CASINO of playing
1.Suppose you play a game at Encore 400 times. You bet one dollar per game. If you win, you win 7 dollars. If you lose, you lose the dollar. You have a 1 in 10 chance to win. Describe the box model from the casino perspective. Specify the number of tickets and the value of each ticket. On average, what is the net gain of the CASINO of playing
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
Author:Carter
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Chapter10: Statistics
Section10.1: Measures Of Center
Problem 13PPS
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8.)
1.Suppose you play a game at Encore 400 times. You bet one dollar per game. If you win, you win 7 dollars. If you lose, you lose the dollar. You have a 1 in 10 chance to win.
- Describe the box model from the casino perspective. Specify the number of tickets and the value of each ticket.
- On average, what is the net gain of the CASINO of playing one game? Round your answer to the nearest cent.
- How much does the casino expect to win in 400 games?
- What is the standard error of part c)?
- Find the probability that the casino will win at least $60 in 400 games. Write the answer as a percent.
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