suppose you are playing a game of chance. If you bet $2 on a certain event, you will collect $92 (including your $2 bet), if you

Question

faust18 [17]

4 years ago

13

suppose you are playing a game of chance. If you bet $2 on a certain event, you will collect $92 (including your $2 bet), if you

win. FInd the odds used for determining the payoff

Mathematics

1 answer:

Rus_ich [418] · Answer 1 · 2022-01-25T07:16:13+03:00

Rus_ich [418]4 years ago

6 0

Even odds 1/1 would be collecting $5 back, so you get 10/5 and you calculate the odds from (10 - 5)/5. So 11/5 back is (11 - 5)/5= 110/5= 22/1 odds.