Question

Justin places a bet on the giants to win the superbowl. the odds are 2:3. a) Are the giants expected to win? why or why not?b) Find P(Giants win)=

Answer 1

To convert the odds to a probability, we can divide the odds by one plus the odds.

then, in this case we have the following:

`\begin{gathered} \text{odds:} \\ 2\colon3=(2)/(3) \\ \Rightarrow1+(2)/(3)=(5)/(3) \end{gathered}`

then, we have that the probability is:

`((2)/(3))/((5)/(3))=(2\cdot3)/(5\cdot3)=(2)/(5)`

thus, the probability that the Giants will win the superbowl is 2/5=0.4=40%

As we can see, we cannot expect for sure that the giants will win