SOLUTION: A race track tote board has the odds for a horse listed as 5 to 3. Tote boards list the odds that a horse will lose the race. If this is the case, what is the probability of the ho
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Question 245940: A race track tote board has the odds for a horse listed as 5 to 3. Tote boards list the odds that a horse will lose the race. If this is the case, what is the probability of the horse winning the race?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A race track tote board has the odds for a horse listed as 5 to 3. Tote boards list the odds that a horse will lose the race. If this is the case, what is the probability of the horse winning the race?
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odds against "A" = P(A')/P(A)
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odds for "A" = P(A)/P(A')
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Your Problem:
odds for the horse = P(winning)/P(losing) = 3:5
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P(horse winning) = 3/(3+5) = 3/8
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Cheers,
stan H.
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