oi Recently, a casino issued a press release announcing that a cocktail waitress
ID: 3063735 • Letter: O
Question
oi Recently, a casino issued a press release announcing that a cocktail waitress won the g that a cocktail waitress won the world's largest slot jackpot-over $30,000,000. She said she had n $50 h the machine when the jackpot hit. The top lackpot for this type of slot machine builds from a base amount of $7 million and can be won with a 3-coin ($3) bet. a) How can the casino afford to give away millions of dollars on a $3 bet? b) Why did the casino issue a press release? Wouldn't most businesses want to keep such a huge loss quiet? a) How can the casino afford to give away millions of dollars? O A. The jackpot is paid by the gaming commission, not the casino, so the loss is divided among all casinos O B. The casino cannot afford to give away millions of dollars for a $3 bet and will probably have to shut down O C. The casino probably has insurance to protect against such large jackpots. D D. The casino earns more than the value of the jackpot from people who bet but do not win. b) Why did the casino issue a press release rather than keep the loss a secret? O A. The casino issyed the press release to ensure that the winner pays all necessary taxes on the jackpot O B. Since word of the loss would sprea d, the casino issued a press release to put the best spin on the loss and to prevent accusations of trying to cover i up people to come and gamble. The amount the casino earns from this more than makes up for the C. The press release generates publicity, which entices more jackpot O D. The casino,lk aybusin ated by w t t halos Click to select your answer iness Statitics: A First Course. 3eExplanation / Answer
a)
The casino affords to give away million of dollars as the casino earns from large number of people who bet $3 but do not win any amount.
So, the correct option is,
D. The casino earns more than the value of the jackpot from people who bet but do not win.
b)
The casino issues a press conference to publicise that a person has win a jackpot with just playing less than $50. This will attract more people towards casino, and their income would grow (as only 1 or 2 would win the jackpot).
So, the correct option is,
C. The press release generates publicity which entices more people to come and gamble. The amount the casino earns from this more than makes up for the jackpot.
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