Bob, the proprietor of Midland Lumber, feels that the odds in favor of a business deal going through are 8 to 4. What is the (subjective) probability that this deal will not materialize? Give your answer to four decimal places, if necessary.
The probability is __________.

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The Answer of Bob, the proprietor of Midland Lumber, feels that the odds in favor of a business deal going through are 8 to 4. What is the (subjective) probability that this deal will not materialize? Give your answer to four decimal places, if necessary.
The probability is __________.

Bob, the Proprietor of Midland Lumber, Feels That the Odds