The statement is false because there is no reason to think

Assignment Help Basic Statistics

Reference no: EM13642720

Two friends decide to go to the track and place some bets. One friend remarks that in an upcoming race, the number 8 horse is paying 45 to 1. This means that anyone who bets on the 8 horse receives $45 for each $1 bet, if in fact the 8 horse wins the race. He goes on to mention that it is a great bet, beause there are only eight horses running in the race, and therefore the probability of horse 8 winning must be 1/8. Is the last statement true or false? Explain.

Choose the correct answer below.

a. The statement is false because the probability of any horse winning a race is equal to the number of that horse divided by the number of horses in the race.

b. The statement is false because there is no reason to think that all horses have an equally likely chance of winning.

c. The statement is true because the probability of any horse winning a race is equal to 1 divided by the number of horses in the race.

d. The statement is true because there is no reason to think that all horses have an equally likely chance of winning.

Reference no: EM13642720

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