At a certain casino sportsbook, the average bet placed on a certain game is $120 with a standard deviation of $15. If a random sample of 50 betting slips are examined, what is the probability that the average wager placed is more than $130?
Added by Tamara Y.
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Given that the standard deviation is $15 and the sample size is 50, we can calculate the SEM as follows: SEM = 15 / sqrt(50) = 15 / 7.07 ≈ 2.12 Show more…
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