Premium Essay

Nevada Gaming Case

In:

Submitted By pawall
Words 1737
Pages 7
To: Jack Potts, Nevada Gaming, Incorporated From: , Statistical Consultants, LLC Subject: Statistical Analysis Results for Nevada Gaming, Incorporated Thank you for trusting Statistical Consultants, LLC to provide you with a summary for the data you provided in regards to your gaming empire. The purpose of this report is to explain the results of our research. I. Introduction

Your factory in Jean, Nevada has 800 employees. Your personnel department selected 36 employees at random and provided their data to us. The sample size is an important feature of any empirical study in which the goal is to make inferences about a population from a sample. There were three tasks that you requested we research for you. First is to examine the gender and age of your factory workers. Next to see if your workers productivity performance ratings are better with hand held computers. Then finally we will analyze your screening process to see if both the General Aptitude and Manual Dexterity test are necessary to screen potential employees. II. Employee Profile

The use of descriptive statistics will provide simple summaries about the sample and about the observations that have been made from that sample. Such summaries may be either quantitative, i.e. summary statistics, or visual, i.e. simple-to-understand graphs. These summaries may either form the basis of the initial description of the data as part of a more extensive statistical analysis, or they may be sufficient in and of themselves for a particular investigation. The purpose of statistical estimation is to arrive at an estimator — preferably an easily implementable one. The estimator takes the measured data as input and produces an estimate of the parameters with the corresponding accuracy. We appreciate the data your Human Resources Department provided to us for our research. a. Gender

Using the sample of 36 employees

Similar Documents

Free Essay

Electoral Race

...Jarrod Brown 11/17/10 Nevada Gubernatorial Race: 2010 Nevada, the home of the infamous adult playground Las Vegas was admitted into the United States of America under Abraham Lincoln in 1864. Admission into the union was rushed to help ensure Lincoln's reelection for his second term. The state held strong ties to big business and helped lead to Lincoln winning the election. The history of Governors in Nevada is split almost even with thier being only a handfull more republicans throughout history than democrats, and a handful of silver party members serving as well. Governors in Nevada are limited to serve two terms of four years each. The race for governor this year was never really a tight one as Brian Sandoval held the lead in polls throughout the race, it was still a competitive fight between Sandoval and Rory Reid. Much controversey did however make the republican nomination interesting. (Huffington Post 2) As time led to the primary elections the bid for the democratic nomination might as well have been uncontested. Rory Reid, Chairman of the Clark County Commission,only had an opponent by definition from Frederick L. Conquest. Reid the son of senate majority leader Harry Reid, easily took the win in the primary election becoming the democratic nominee and awaiting to see who would rise to face him from the complicated republican...

Words: 1616 - Pages: 7

Premium Essay

Belagio Case

...Controls at the Bellagio Casino Objectives of the company: To earn profits. Significant amount of income was generated through high-end gaming segment and its over all performance was highly dependent on the volume of customers at its resorts. A highly competitive environment with other gaming and leisure companies. Strategy: Company’s primary methods of successfully competing in these markets: Locating resorts in desirable leisure and business travel markets, and operating at superior sites within those markets. Luxurious and premium customer service. Recruiting and training the best staff. Developing distinctive and memorable marketable and promotional programs. Key performance indicators: Gaming revenue indicators such as table games drop and slot machines handle. Hotel revenue indicators through occupancy and average daily price rate. Increasing use of advanced technologies to help maximize revenue and operational efficiency. Example: By combining the player affinity programs, the players club, and manadalay’s one club into a single program. This enhanced the customer experience and revenue potential. The key strategy to maximize profits this case focuses on is the internal controls adopted by the casino. Internal controls: Extensive government regulation to ensure effective internal controls. Effective Internal Controls were really important in a business such as this where the government had its own share of the pie and the owners of the casino would...

Words: 561 - Pages: 3

Premium Essay

American Constitution

...Denzel Ngo William Davis Political Science 101 20 April 2011 Term paper The significance of the fact that the Nevada Constitution is lengthier than the U.S. Constitution is insurance for the state. The Constitution assures the states of its problems and its issues. The Nevada Constitution was approved on the first Wednesday of September 1864. In the state of Nevada, the significant fact that lengthens our Constitution from the U.S. Constitution is the gaming Constitution. The gaming Constitution needs to be addressed when congress or any other political parties speak about Nevada. The state of Nevada operates most of its residual income through entertainment, hotels, and gambling. In almost every hotel in Nevada, slot machines, poker tables, and about hundreds of gambling activities are played throughout casino floors to keep customers entertained. Entertainment is very important in Nevada’s hotels. Keeping the guests entertained is an essential factor for them to keep coming back to Las Vegas. Tourists from all over the world come to Las Vegas, Nevada to enjoy the warm climate and gamble money hoping to strike luck. Other Entertainment activities are always present in the Las Vegas strip. For example, while a tourist is driving through the Las Vegas strip; tourists are attracted by bright casino lights, and shows that occur in front of casino property. Hotel properties are designed in an elegant way to make the tourist’s vacation worth the money. This is a...

Words: 2306 - Pages: 10

Premium Essay

Pat Mulroy: Wynn Resorts Case Study

...discussion was over the controversy of Pat Mulroy being appointed a board member of Wynn Resorts. The reason this became a debate is because Mulroy had been a member of the Nevada Gaming Commission less than a year before and was allowed to get this job. Nevada law states that a member of the Nevada Gaming Commission must have a one year cooling off period where they cannot sit on the board of any private gaming company because of the sensitive information that said person may be able to use to the companies advantage. However Mulroy was given permission to forego this one year cool off period and is on the board for Wynn. The Nevada Commission of Ethics found that, in Mulroy’s case, she did not have to wait. The commission’s biggest point...

Words: 870 - Pages: 4

Premium Essay

Hilton Hotel

...CASE 2 Hilton Hotels Hilton Hotels Corporation owns, manages and/or franchises hotels, casino-hotels and inns; sells furnishings, equipment, and supplies to hotels, motels, and inns; and operates a computerized reservation system for the hotel industry. After two major takeover attempts in the early 1990s, Hilton Hotels decided that it had to change by becoming a more aggressive business operation. The result was the decision to move heavily into gambling. This change of strategic direction represented a significant shift in Hilton’s business focus and marketing objectives. Already the owner of four casinos in Nevada, the Los Angeles hotelier began pushing projects in New Orleans, Chicago, Egypt, Turkey, Uruguay, and Australia. While gaming accounted for about 34 percent of Hilton’s overall sales in the early 1990s, its four casinos contributed nearly two–thirds of Hilton’s operating earnings. Nevertheless, Hilton’s new emphasis on gambling carried a large element of risk. Competition for the gaming dollar is intense, and the degree of investment needed to be successful is high. Hilton has had to put more than $6 million into renovating the Las Vegas Hilton to keep up with such rivals as the Mirage and the Excalibur, and it has also renovated the Flamingo Hilton to keep pace with other new places. To lure high rollers away from other casinos, the Las Vegas Hilton has had to be more generous about extending credit, resulting in bad gaming debts and reductions in operating income...

Words: 1554 - Pages: 7

Free Essay

Las Vegas Sands Corp

...Las Vegas Sands Corporation History The Las Vegas Sands Corporation started in 1989 as “Las Vegas Sands Incorporated” with the purchase of the Sands hotel and casino by entrepreneur Sheldon Adelson and his partners. In 1995 Sheldon Adelson bought out his partners in The Interface Group (TIG), the group that made the initial purchase of the Sands, and began planning the Venetian. In 1996 the Sands was imploded and in 1999 the Venetian was opened. Five years later, in December of 2004, Adelson took the Las Vegas Sands Inc. group public and it has since been the Las Vegas Sands Corporation (LVSC). Financial history The initial offering on December 14th, 2004 consisted of 23,809,524 shares at a price of $29 per share. From Bloomberg Business week, also shown in Appendix 1, we can see that since the first full month that LVSC has been traded on the NYSE its average record monthly high stock value was $103.05 and its average monthly record low stock trade value was $10.17. Within the last five years, the LVSC has suffered through the world’s economic downturn just like any other company. In Appenix 2 we can see that the early part of 2009 was the worst, in terms of stock prices, for the LVSC. We can also see that within the last two years, LVSC has also regained a lot of ground. There current share price is on the NYSE is at 51.50 and the performance of the Macau and Singapore markets continues to positively increasing the value of the overall company. Political position...

Words: 3090 - Pages: 13

Premium Essay

Nevada Gambling Case Study

...The gambling industry attracts services, organizations and many businesses which offer gambling as a commercial activity. Including casinos, bookmakers gambling websites and the industry also includes associated entertainment and tourism services, marketing companies, lawmakers and regulators who have an important part in serving gaming activities to the public (1). The gambling has been a boon and bain in various countries across the world (2) Gambling in Europe majority of its countries legalized with gambling except France and Iceland where online casinos have been banned, but land-based casinos and other forms of gambling, such as bingo and sports betting, are considered acceptable. Moving on to gambling in America the state of Nevada is completely fine with all forms of gambling. (3) During fiscal year 2016, roughly $1.4 billion in taxes and fees were paid by Nevada hotel-casino operators. This included major contributions to Nevada's three largest sources of revenue: sales tax, property tax and gaming tax. Nevada hotel casinos account for nearly $1.4 billion, or around 42 percent of State General Fund revenues – more than...

Words: 779 - Pages: 4

Premium Essay

Harrah Case Analysis

...Question 1: Factors that drove Harrah’s Customer Relationship Strategy Harrah’s strategy in customer relationship can be divide in two parts i.e. Pre-1990 and Post-1990. This was because the industry saw a sharp increase in competition post 1990. Pre-1990 The company focused on people and made an attempt to take casinos beyond Nevada and New Jersey, which gave them the first mover advantage. The company segmented the market on the basis of their winnings and initiated communication with people who had won over a certain amount in jackpots. The company soon realized that this strategy brought them small amounts of gaming dollars even though it exponentially increased cross-market visitation. Their initial investment was towards a national database named Winner’s Information Network that allowed them to make decisions based on the data from tracking customers’ play. Post 1990 The industry wide competition increased after 1990 with the entrance of new players like Mirage and MGM. The new entrants took casinos beyond gambling by adding various different experiences. While Harrah was interested in building a similar environment for its customers, the capital investment for an existing company would be significant and could not be justified. Hence they decided to focus on their own core competency, which was customer loyalty. They also realized that while they had excellent technology and great operations they lacked effective marketing. Thus they focused on developing a more...

Words: 928 - Pages: 4

Premium Essay

Asdasd

...ISSN 1940-204X TallTree2 Hotel Casino John R. Mills University of Nevada at Reno Jeffrey Wong University of Nevada, Reno Background could be generated by the players gambling. Thus, room prices as well as food and drink prices were set very low to get the customer in the door and keep them there with the notion that these reduced costs would be recouped with 过去其他部门低成本,靠赌博收益,现在变了,见收 casino customer play. 益表分析 But, as the hotel casino structure expanded into luxury hotel complexes with upscale shopping centers (substantially increasing capital expenditures), management now wants these departments to operate more like profit centers. Whereas 20 years ago the casino department generated over 90% of total property revenues, current property revenues are more spread over a range of departments. The current income statement (Worksheet #1) for TallTree2 Hotel Casino shows that 64% of revenues are generated by gaming while rooms (14%), food (12%), beverage (6%), and other (4%) make up the remaining 36%. Northern Nevada casino operations are cyclical, with 收入的季节性 peak demands occurring on Friday and Saturday (100% 特征 hotel occupancy) and during July, August, September, and October. Hotel room rates can change substantially, with rates during the slow period as low as $49 but the same room selling during the Hot August Night Special event for $350 per night. Special holidays such as Thanksgiving and Christmas have traditionally been very slow for casinos...

Words: 4984 - Pages: 20

Premium Essay

The Future of Gaming Employment

...Future of Gaming Employment Kimberly Dixion DeVry University Author Note This paper was prepared for HMT 440 taught by Professor Zombas. Table of Contents Introduction………………………………………………………………………………………3 Gambling Through the Years……………………………………………………………………3 Types of Casinos…………………………………………………………………………………6 Careers in Gaming ……………………………………………………………………………….8 Conclusion……………………………………………………………………………………….10 Introduction The casino and the gaming industry has gotten to be very popular throughout the years. The fact that different states and countries are allowing gambling into their areas, means that more jobs will be popping up for the people of these areas and who are in this industry. I feel that the gambling industry will offer employment to many people for years to come. Information that needs to be considered are that casinos are be putting up in almost every state, but you also have to look at online casinos and casinos that are now on cruise ships. Between Resorts, cruises and just the casinos themselves, there are many positions that need to be filled to keep these establishments running. Gambling Through the Years There is no exact date of when gambling was started. There is record of the Chinese doing it in 2300 B.C (casino-hstory.org). There are also stories of the ancient Greeks, Queen Elizabeth and the Romans gambling in some way as well. A lot of the games that are played in recent times actually have a history of starting in Europe and China. Gaming in the...

Words: 2692 - Pages: 11

Premium Essay

Case 1

...Case #1 Michael Benavides Controls at the Bellagio Casino and Resort The Bellagio Casino and Resort is owned by the MCM Mirage and is one of the 23 properties that they own. The Bellagio is one of the world’s most premier casino resorts. With it they have up to 4,000 employees working 24 hours a day, every day of the year. Of the 4,000 employees 1000 of them work in finance organization, reporting directly to the executive vice president/CFO. The casino consists of 2409 slot machines and 143 gaming tables inside the in 2,000 square foot convention space. In the casino and resort industry they are a very competitive environment and are high regulated by the state of Nevada. The Bellagio consists of two separate profit centers. One profit center is the gaming operations with table games (blackjack, baccarat, craps, roulette, keno, and poker) and the slot machines. The second profit center is the non-gaming operation which is made up of rooms, food and beverage, entertainment, retail and other, and non-casino revenue. With the industry changing so much as it is Bob Rudloff (vice president of internal audit) explains that “People don’t just come to Vegas anymore to gamble; rather, they are attracted by shopping, dining, spas, shows, and entertainment. This has resulted in a shift in revenues from gaming to non-gaming. Strategically, however, our business is not just about controlling the gaming part of revenues any longer. 1.) Focus on three key roles at mainly three levels...

Words: 813 - Pages: 4

Free Essay

Legalize Gambling

...they can tax it. People think of gambling and automatically like a trained gambler think of Las Vegas or Atlantic City. Gambling has been in America’s blood since before we were a country. All thirteen original colonies established lotteries to raise revenue. 48 states today that have legalized some form of gambling and have made billions of dollars. 43% of Nevada’s general fund is fed by gaming-tax revenue, which means casinos pump in $9 billion dollars of revenue annually for the state. California is no stranger to gambling, the Gold Rush set off a gambling boom in San Francisco where it replaced New Orleans as the center for gambling in the United States at that time. California must legalize gambling to raise revenue for its state deficit and to put that money back into its communities. California has always set new standards and exceeds expectations with its impractical views, but gambling has been left in gold dust. With billions of dollars to be made for the state, legalizing gambling in California and taxing it seems to be a more practical idea than to keep it illegal. With Indian gaming casinos and lotteries already here and flourishing, why wouldn’t California put a few casinos in cities to get itself out of debt? The state and its $19 billion deficit going into fiscal year 2012 needs a solution and a solution fast. The California state Legislature is in Sacramento playing the slots themselves, but the screen does not say bar-bar-bar but cuts-cuts-cuts. Money is won with...

Words: 2708 - Pages: 11

Premium Essay

A Conflict Resolution

...conflict resolution concepts (communication skills, Getting To Yes principles, TRIP goals). In this specific conflict, Michael Corleone has secured the head position in the family, and attempts to expand the family empire into Las Vegas and Cuba. The Corleone family no longer resides in New York. They have moved to Nevada where they are obtaining an influential reputation with the vague goal of some day becoming "legitimate." With Nevada Senator Pat Geary, Michael Corleone discusses the terms of a fourth state gaming license for the Corleone family, but the two only trade insults and demand payoffs. Michael: This is my lawyer, Tom Hagen; Senator Geary. He's the one who arranged this whole thing through your man Turnbull. Senator: Yes -- Yes. Senator: Well uh, it's perfectly all right with me, but I should tell you that I am a blunt man and I intend to speak very frankly to you -- maybe -- more frankly than anyone in my position's ever spoke to you before. The Corleone family has done very well here in Nevada. You own, or, you control, two major hotels in Vegas -- one in Reno. The licenses were grandfathered in, so there is no problem with the gaming commission. Now, my sources tell me that -- you plan to make a move against the Tropicalla. They tell me within a week -- you're gonna move Klingman out. That's quite an expansion. However it will leave with one little technical problem. Ahh -- The license will still be in Klingman's name. Michael: Turnbull...

Words: 1967 - Pages: 8

Premium Essay

Talltree

...ISSN 1940-204X TallTree2 Hotel Casino John R. Mills University of Nevada at Reno Jeffrey Wong University of Nevada, Reno Background The TallTree2 Hotel Casino is a 640-room resort complex featuring a full range of Nevada-style gaming: slot machines, table games (twenty-one, craps, poker, roulette, baccarat, and keno). Besides the hotel and casino, it also has four separate restaurants, two entertainment showrooms, and three gift shops. It is located in the extremely competitive Reno, Nevada, market that includes 25 other hotel casino properties within a 10-mile radius. Given the competitive market, the casino management uses a wide range of marketing promotions to attract customers to the casino facilities where, it is hoped, they will try their luck at the slots or table games. Casinos are designed in such a way that customers must walk through or past the gaming area to get to the restaurants or the hotel registration area. The primary objective of a hotel casino property is to keep a gaming customer in the complex. The casino industry is a unique service industry that has created gaming odds that over a period of time will result in the casino generating revenues from its customers. For example, in northern Nevada, the house normally keeps 2.1% of every dollar that a player puts into a slot machine. Other states and Indian properties can retain up to 12% of each dollar played. For table games the normal return is 12% of drop (money lost by players). To maximize the...

Words: 4980 - Pages: 20

Free Essay

Las Vegas Sands Essay

...such as the Venetian retail mall, and its Shoppes at the Palazzo in order to remain compliance with its credit covenants. With this said, there are now in the position to return to profitable operations with its Asian pipeline and its new development project in Europe with the assumption that upon completing these projects it will generate enough revenue to get rid of all their debts. In addition, to their debt issues are the ongoing lawsuits that have brought a threat from government officials questioning how the company conducts its domestic and foreign operations. This is an issue of growing importance especially, for firms competing on a more global basis and have significant profit margins associated with intellectual property in this case it would be in the best interest of the company to play by the rules in order to avoid any disciplinary actions that can jeopardize their license or sub-concession in those countries they operate in. Overall the company has repeatedly demonstrated their ability...

Words: 5541 - Pages: 23