Why is the standard deviation so large

Reference no: EM131009026

Casino

At a casino, people play the slot machines in hopes of hitting the jackpot, but most of the time, they lose their money. A certain machine pays out an average of $0.92 (for every dollar played), with a standard deviation of $120.

a) Why is the standard deviation so large?

b) If a gambler plays 5 times, what are the mean and stan- dard deviation of the casino's profit?

c) If gamblers play this machine 1000 times in a day, what are the mean and standard deviation of the casino's profit?

Reference no: EM131009026

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