Florida Lottery Let A denote the event of placing a $1 straight bet on the Florida Play 4 lottery and winning. The chance of event A occurring is 1 in 10,000. What is the value of P(A)? What is the value of P ( A ) ?
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Textbook Solutions for Elementary Statistics
Question
Odds. In Exercises 4346, answer the given questions that involve odds.Finding Probability from Odds If the actual odds against event A are a:b, then P ( A ) = b / ( a + b ) . Find the probability of the horse Make Musicfor Me winning the 136th Kentucky Derby, given that the actual odds against his winning that race were 36:1.
Solution
The first step in solving 4-2 problem number 46 trying to solve the problem we have to refer to the textbook question: Odds. In Exercises 4346, answer the given questions that involve odds.Finding Probability from Odds If the actual odds against event A are a:b, then P ( A ) = b / ( a + b ) . Find the probability of the horse Make Musicfor Me winning the 136th Kentucky Derby, given that the actual odds against his winning that race were 36:1.
From the textbook chapter Basic Concepts of Probability you will find a few key concepts needed to solve this.
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