SOLUTION: You are the owner of a small casino in Las Vegas and you would like to reward the high-rollers who come to your casino. In particular, you want to give free accommodations to no m
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Question 904010: You are the owner of a small casino in Las Vegas and you would like to reward the high-rollers who come to your casino. In particular, you want to give free accommodations to no more than 10% of your patrons. Suppose that the amount wagered by patrons follows a normal distribution. The mean amount wagered by all patrons is $287 with a standard deviation of $15. You should give free accommodations to those individuals who wager over how much money? Answer by ewatrrr(24785) (Show Source):
You can put this solution on YOUR website! z = invNorm(.90) = (X - 287)/15
15(invNorm(.90)) + 287 = X (over this amount to qualify for free accommodations)
