13) Assume that the odds against a certain horse winning a race are 5 to 2. If a bettor wins $14 when the horse wins, how much should the person bet to make the game "fair"?
13) Assume that the odds against a certain horse winning a race are 5 to 2. If a bettor wins $14 when the horse wins, how much should the person bet to make the game "fair"?
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Transcribed Image Text:13) Assume that the odds against a certain horse winning a race are 5 to 2. If a bettor wins $14
when the horse wins, how much should the person bet to make the game "fair"?
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