# Standard Deviation in a Gambling Scenario

Not what you're looking for? Search our solutions OR ask your own Custom question.

Two craps tables collect an average of $500 per hour. One table has a standard deviation of $50 while the other has a standard deviation of $150. What conclusion can be drawn from the data? Normally, would one want a larger of smaller standard deviation? Please discuss and show any work associated with this question. Thanks

Â© BrainMass Inc. brainmass.com March 4, 2021, 9:07 pm ad1c9bdddfhttps://brainmass.com/statistics/quantative-analysis-of-data/standard-deviation-gambling-scenario-219445

#### Solution Preview

I would suspect that the one with the larger standard deviation plays larger amounts than the one with smaller standard deviation. It is also ...

#### Solution Summary

The answer clearly explains the concept of risk and return using the example in the question. The answer does an excellent job of explaining the concepts. Overall, a great answer.

$2.49