Question

(b) In a recent Kentucky Derby, the betting odds for the favorite horse were 9 to 5. Use these odds to compute the probability that the favorite horse would lose the race. What is the probability that the favorite horse would win the race?

Answer 1

Answer:

Therefore, we conclude that the probability is P=0.31.

Step-by-step explanation:

We know that in a recent Kentucky Derby, the betting odds for the favorite horse were 9 to 5. We calculate the  probability that the favorite horse will win the race. Therefore, we get:

$P=\frac{1}{5}+\frac{1}{9}\\\\P=\frac{14}{45}\\\\P=0.31$

Therefore, we conclude that the probability is P=0.31.