Find the odds.
-Suppose you are playing a game of chance.If you bet $9 on a certain event,you will collect $360(including your $9 bet)if you win.Find the odds used for determining the payoff.
A)39:1
B)1:39
C)360:369
D)40:1

Question

Quizplus · Accepted Answer

The odds are determined by the ratio of the probability of winning to the probability of losing. In this case, if you bet $9 and can potentially win $360, your probability of winning must be 1/40 (since there are 40 possible outcomes - either you win or you lose). The odds can be expressed as the ratio of the probability of winning to the probability of losing (which is 39/1 or 39:1). Therefore, the correct answer is A) 39:1.

Find the Odds. -Suppose You Are Playing a Game of Chance.If You Bet