SOLUTION: For a certain horse race, the odds in favor of a certain horse finishing in second place are given as 37 to 63. Express the indicated degree of likelihood as a probability value be
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Question 998913: For a certain horse race, the odds in favor of a certain horse finishing in second place are given as 37 to 63. Express the indicated degree of likelihood as a probability value between 0 and 1 inclusive.
What is the probability? Answer by Fombitz(32388) (Show Source):
You can put this solution on YOUR website! Odds are given as outcomes for versus outcomes against the event.
So out of 100 (37+63), the horse finishes second 37 times.
