2.CALCULATE THE DROP UNDER THE NAME CREDIT SYSTEM.(PLEASE ENTER YOUR ANSWER AS A

2.CALCULATE THE DROP UNDER THE NAME CREDIT SYSTEM.
(PLEASE ENTER YOUR ANSWER AS A WHOLE NUMBER, DO NOT INCLUDE ANY SPECIAL CHARACTERS INCLUDING PERIODS, COMMAS, OR DOLLAR SIGNS.
6.UNDER THE NAME CREDIT SYSTEM, CALCULATE THE TABLE WIN.
(PLEASE ENTER YOUR ANSWER AS A WHOLE NUMBER. DO NOT INCLUDE ANY SPECIAL CHARACTERS INCLUDING PERIODS, COMMAS, OR DOLLAR SIGNS)
7.THE HOLD UNDER THE NAME CREDIT SYSTEM IS __%.
PLEASE ENTER YOUR ANSWER TO THE NEAREST TENTH (EXAMPLE: 183). DO NOT INCLUDE THE % SYMBOL IN YOUR ANSWER.
8.THE HOLD UNDER THE MARKER SYSTEM IS %.
PLEASE ENTER YOUR ANSWER TO THE NEAREST TENTH (EXAMPLE: 18.3). DO NOT INCLUDE THE % SYMBOL IN YOUR ANSWER.

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PLEASE USE THE FOLLOWING DATA TO ANSWER THE NEXT SEVEN QUESTIONS.

Expert Answer

This solution was written by a subject matter expert. It’s designed to help students like you learn core concepts.

Step-by-step

Step 1/3

Let’s break down the information and calculate the requested values:

Drop under the name credit system:

Drop = Currency Cheques in drop box

Drop under the name credit system = $55,000 $0 (since cheques in drop box are not considered in the name credit system)

Drop under the name credit system = $55,000

2. Table win under the name credit system:

Table win = Total markers issued on game – Total markers redeemed in pit Table win under the name credit system =$95,000−$65,000

Table win under the name credit system = $30,000

Explanation:

Table win is the total amount of markers issued on the game minus the total markers redeemed in the pit. Table win under the name credit system = $95,000 (total markers issued) – $65,000 (total markers redeemed)

Step 2/3

Hold under the Name Credit System:

Hold percentage is calculated using the formula: (Ending cheque inventory – Fills – Credits) / (Beginning cheque inventory Drop – Ending cheque inventory) * 100.

For the name credit system:

Ending cheque inventory = $40,000

Fills =$45,000

Credits = $10,000

Beginning cheque inventory = $135,000

Drop under the name credit system = $55,000

Hold under the name credit system ≈[40,000−45,000−10,000135,000 55,000−105,000]×100≈21.1%.

Step 3/3

Hold under the Marker System:

Using the same formula, but with different values:

Ending cheque inventory = $105,000

Fills = $45,000

Credits = $10,000

Beginning cheque inventory = $135,000

Drop under the marker system = $55,000

Hold under the marker system ≈[105,000−45,000−10,000135,000 55,000−105,000]×100≈34.2%.

These calculations provide insights into the financial performance of the casino under both the name credit and marker systems. The hold percentage is a key metric that indicates the percentage of money retained by the casino from the total amount wagered by players.

Under the name credit system, the drop is 55,000, the table win is 30,000, and the hold is approximately 21.1; under the marker system, the hold is approximately 34.2.