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    dylanandkaylee's Avatar
    dylanandkaylee Posts: 3, Reputation: 1
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    #1

    Apr 25, 2007, 08:36 PM
    Odds against
    If the probability of a boy being born is 1/2, and a family plans to have four children, what are the odds against having all boys?


    If the odds in favor of Fast Legs winning a horse race are 5 to 2 and the first prize is $14,000, what is the expected value of Fast Leg's winning?



    How do I figure out these two problems and can you show me step for step and the answers? I have been working on these problems for two hours and I can't figure them out. Odds against/in favor of, and expected value is giving me a lot of trouble.
    Capuchin's Avatar
    Capuchin Posts: 5,255, Reputation: 656
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    #2

    Apr 26, 2007, 05:44 AM
    The first one is easy, there is only a single way to get 4 boys, so this one is easy. You multiply together the chance of getting a boy in each case.

    I don't quite understand the second one...
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