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Casino gambling. Recently, the International Gaming Technology company issued the following press release:
(LAS VEGAS, Nev.)-Cynthia Jay was smiling ear to ear as she walked into the news conference at the Desert Inn Resort in Las Vegas today, and well she should. Last night, the 37-year-old cocktail waitress won the world's largest slot jackpot- $34,959,458-on a Megabucks machine. She said she had played $27 in the machine when the jackpot hit. Nevada Megabucks has produced 49 major winners in its 14-year his- tory. The top jackpot builds from a base amount of $7 million and can be won with a 3-coin ($3) bet.
a) How can the Desert Inn afford to give away millions of dollars on a $3 bet?
b) Why did the company issue a press release? Wouldn't most businesses want to keep such a huge loss quiet?
Where you are calculating the value of uncertain outcomes (probability nodes on the diagram), do this by multiplying the value of the outcomes by their probability. The total for that node of the tree is the total of these values.
A certain airplane has two independent alternators to provide electrical power. The probability that a given alternator will fail on a 1-hour flight is .02. What is the probability that (a) both will fail? (b) Neither will fail? (c) One or the oth..
question in 2000 27.7 of incoming freshmen characterized their political views as liberal 51.9 as moderate and 20.4 as
with a mean of 74 and standard deviation of 16. what is the proportion of healthy people will have cbf readings between
SPSS OUTPUT INSTRUCTIONS
At a .01 level of significance, test whether there is a difference between the 2 sample means. Construct a 99 percent confidence interval estimate of the difference between the two sample means.
assume that adults have iq scores that are normally distributed with a mean of 100 and a standard deviation of 15.find
A departmental store that wishes to examine whether it is losing or gaining customers draws a sample from its list of credit cardholders by selecting every tenth name.
What is the probability that a consumer selected at random purchased the same number or more products than before?
In a test of the reliability of products produced by two machines, machine 1 produced 10 defective parts in a run of 200, while machine 2 produced 15 defective parts in a run of 260. Test the claim that proportion of defectives produced by machine..
If there are 75 students in the class, what is the probability the professor needs more than 6 hours to mark all of the midterms?
A pharmaceuticals company claims to have developed a cure for the common cold. In order to test whether this is true, one group of recent cold-sufferers was given this medicine and another group was given a placebo instead.
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