Question

The probability is 0.667 that the favorite in a horse race will finish in the money (first, second, or third). In 500 horse races, roughly how many times will the favorite finish in the money?

Answer 1

`\begin{gathered} \text{Probability of the favorite horse:} \\ P=0.667 \\ In\text{ 500 horse races, how many times will the favorite finish in the money?} \\ \text{Let us apply the rule of 3:} \\ 500\text{ horse races -----probability 1} \\ x\text{ horse races -------probability 0.667} \\ \text{then,} \\ x=((500)(0.667))/(1) \\ x=(500)(0.667) \\ x=333.5 \\ by\text{ rouding to the nearest race, x=334 horse races} \end{gathered}`