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suppose the probability of a horse winning a race is 0.04. what are the odds of winning? express your answer in the form a:b

User Acelasi Eu
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1 Answer

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The probability of a horse winning a race is


Pr(\text{ win)=0.04}

The probability of the horse losing will be calculated as


Pr(\text{lose)}=\text{ 1- Pr(win)}

By substituting the value, we will have


\begin{gathered} Pr(\text{lose)}=\text{ 1- Pr(win)} \\ Pr(\text{lose)}=1-0.04 \\ Pr(\text{lose)}=0.96 \end{gathered}

The formula used to calculate the odds of winning is given below as


\text{Odds of winning=}\frac{pr(\text{ win)}}{Pr(loose)}

By substituting the values, we will have


\begin{gathered} \text{Odds of winning=}\frac{pr(\text{ win)}}{Pr(loose)} \\ \text{Odds of winning}=(0.04)/(0.96) \\ \text{Odds of winning}=(4)/(96) \\ \text{Odds of winning}=(1)/(24) \\ \text{Odds of winning}=1\colon24 \end{gathered}

Hence,

The odds of winning = 1 : 24

User Glenc
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