SOLUTION: The house odds for team "bears to win a soccer championship are 7:1 A) what's is the probability "bears winning the championship? B) what is the probability of the bears losing?

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Question 876234: The house odds for team "bears to win a soccer championship are 7:1
A) what's is the probability "bears winning the championship?
B) what is the probability of the bears losing?
C) what are the odds of the "bears" winning?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
Odds of winning are 7:1
P(winning) = 7/8
P(losing) = 1/8
Odds(winning)are 7:1