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Average casino win percentage

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Reference no: EM133266000

Casino games of pure chance? (e.g., craps,? roulette, baccarat, and? keno) always yield a? "house advantage." For? example, in the game of? double-zero roulette, the expected casino win percentage is 5.34% 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 34 ?cents.) It can be shown that in 100 roulette plays on? black/red, the average casino win percentage is normally distributed with mean 5.34?% and standard deviation 9?%. Let x represent the average casino win percentage after 100 bets on? black/red in? double-zero roulette. Complete parts a through d.

a. Find ?P(x>?0). ?(This is the probability that the casino wins? money.)

Reference no: EM133266000

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