7. Welcome to the Horse Races and RWM Casino! You and your friendshave decided to go gambling. You have $100 to spend and must makeat least 2 bets. The following are the horses' names and odds ofwinning. Before the race begins you must first find the probability ofeach horse winning.List ParStyleFontCalibriNameOddsMinimum BetProbability of winningRegularAnita Tutor45:2$20Ima Gunawin20:3$15Ivanna A6:1$15Character StylWillie Be Right10:1$10Hugh G MathNerd9:4$20Text Color 10:1Hugh G MathNerd$109:4$20RACE 11. Make your bets! What bets have you made?2. Explain why you choose the bets you did?3. What is your expected value for each bet you made and your total expected value?4. Wait for winner to be decided. how much money have you won or lest?5. How much money do you have left?F1F3#33581QWRF.樂”

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Description: 7. Welcome to the Horse Races and RWM Casino! You and your friendshave decided to go gambling. You have $100 to spend and must makeat least 2 bets. The following are the horses' names and odds ofwinning. Before the race begins you must first find th

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Math

Probability

7. Welcome to the Horse Races and RWM Casinol You and your friends have decided to go gambling. You have $100 to spend and must make at least 2 bets. The following are the horses' names and odds of winning. Before the race begins you must first find the probability of each horse winning. Name sppo 45:2 Minimum Bet Probability of winning Anita Tutor $20 Ima Gunawin 20:3 $15 Ivanna A 6:1 $15 Willie Be Right 10:1 $10 Hugh G MathNerd 94 $20

7. Welcome to the Horse Races and RWM Casinol You and your friends have decided to go gambling. You have $100 to spend and must make at least 2 bets. The following are the horses' names and odds of winning. Before the race begins you must first find the probability of each horse winning. Name sppo 45:2 Minimum Bet Probability of winning Anita Tutor $20 Ima Gunawin 20:3 $15 Ivanna A 6:1 $15 Willie Be Right 10:1 $10 Hugh G MathNerd 94 $20

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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