Question

jim goes to the track with $150 in his pocket. his favorite horse, major, is running three races against four other horses. each competing horse has an equal chance of winning and jim bets in all three races, $50 per race. what is the probability of jim leaving the track with money in his pocket?

Answer 1

The probability of Jim leaving the track with money in his pocket is 124/125.

Step-by-step explanation:

To find the probability of Jim leaving the track with money in his pocket, we need to consider the possible outcomes. Jim bets $50 in each of the three races, so he will end up losing $150 if he loses all three races.

Since each horse has an equal chance of winning, the probability of Jim winning a race is 1/5.

To find the probability of Jim leaving with money, we can subtract the probability of losing all three races from 1.

P(Leaving with money) = 1 - P(Losing all three races) = 1 - (1/5)^3 = 1 - 1/125 = 124/125.

Therefore, the probability of Jim leaving the track with money in his pocket is 124/125.