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Casino games of pure chance (e.g., craps, roulette, baccarat, and keno) always yield a house advantage. For example, in the game of doublezero roulette, the
Casino games of pure chance (e.g., craps, roulette, baccarat, and keno) always yield a "house advantage." For example, in the game of doublezero roulette, the expected casino win percentage is 5.325.32% on bets made on whether the outcome will be either black or red. (This implies that for every $5 bet on black or red, the casino will earn a net of about 3232 cents.) It can be shown that in 100 roulette plays on black/red, the average casino win percentage is normally distributed with mean 5.325.32% and standard deviation 1111%. Let x represent the average casino win percentage after 100 bets on black/red in doublezero roulette. Complete parts a through d. a. Find P(xgreater than>0). (This is the probability that the casino wins money.) P(xgreater than>0)equals= nothing (Round to three decimal places as needed.) b. Find P(66less than69,000. Upper P left parenthesis x overbar greater than 69 comma 000 right parenthesisP x>69,000equals= nothing (Round to three decimal places as needed.) Casino games of pure chance (e.g., craps, roulette, baccarat, and keno) always yield a "house advantage." For example, in the game of doublezero roulette, the expected casino win percentage is 5.325.32% on bets made on whether the outcome will be either black or red. (This implies that for every $5 bet on black or red, the casino will earn a net of about 3232 cents.) It can be shown that in 100 roulette plays on black/red, the average casino win percentage is normally distributed with mean 5.325.32% and standard deviation 1111%. Let x represent the average casino win percentage after 100 bets on black/red in doublezero roulette. Complete parts a through d. a. Find P(xgreater than>0). (This is the probability that the casino wins money.) P(xgreater than>0)equals= (Round to three decimal places as needed.) b. Find P(66less than69,000. Upper P left parenthesis x overbar greater than 69 comma 000 right parenthesisP x>69,000equals= (Round to three decimal places as needed.)
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