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What proportion of players will receive a payoff

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The transformation formula for comparing an individual to the sample mean: Z = (x - xbar) / σ The transformation formula for comparing a sample mean to the population mean: __ __ Z = (xbar - µ) / σx where σx = σ / √ n so by extension Z = (xbar - µ) √ n / σ

A Casino runs a game where the payoff is normally distributed with a mean of $6300 and a standard deviation of $3840. The Casino charges $6500 per player to play with the hope of making $200 on average per player

What proportion of players will receive a payoff more than $8000, meaning they will net a profit of at least $1500. { show as a decimal to four places?

Reference no: EM132850663

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