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If you are given odds of 6 to 7 in favor of winning a bet, what is the probability of winning the bet? K

If you are given odds of 6 to 7 in favor of winning a bet, what is the probability of winning the bet? K

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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12: Answer
**Odds and Probability of Winning a Bet** When you are given odds of 6 to 7 in favor of winning a bet, you can determine the probability of winning by considering the ratio of favorable outcomes to total outcomes. 1. **Understanding Odds:** - Odds of 6 to 7 means there are 6 favorable outcomes for every 7 unfavorable ones. 2. **Calculating the Probability:** - The total outcomes = favorable outcomes + unfavorable outcomes = 6 + 7 = 13. - Probability of winning (favorable outcome) = favorable outcomes / total outcomes = 6/13. 3. **Final Answer:** - The probability is \( \frac{6}{13} \). (Type an integer or a simplified fraction.)
Transcribed Image Text:**Odds and Probability of Winning a Bet** When you are given odds of 6 to 7 in favor of winning a bet, you can determine the probability of winning by considering the ratio of favorable outcomes to total outcomes. 1. **Understanding Odds:** - Odds of 6 to 7 means there are 6 favorable outcomes for every 7 unfavorable ones. 2. **Calculating the Probability:** - The total outcomes = favorable outcomes + unfavorable outcomes = 6 + 7 = 13. - Probability of winning (favorable outcome) = favorable outcomes / total outcomes = 6/13. 3. **Final Answer:** - The probability is \( \frac{6}{13} \). (Type an integer or a simplified fraction.)
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