A race track tote board has the odds for a horse listed as 5 to 3. tote boards list the odds that a horse will lose the race. If this is the case, what is the probability of the horse winning the race?
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A race track tote board has the odds for a horse listed as 5 to 3. tote boards list the odds that a horse will lose the race. If this is the case, what is the probability of the horse winning the race?
The horse loses 5 times for every 3 it wins. Thus, the probability it loses is 5/(5+3)=5/8. So, what is the probability it wins?
If you have odd in the form a:b
The probability of 'a' occurring is
the probability of 'b' then occurring is 1-P
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