Bob is prepared to make a bet that punter\'s Folly will win thefirst race when t

Question

Bob is prepared to make a bet that punter's Folly will win thefirst race when the odds are 2:1 against. He is prepared to make abet Gambler's Ruin will win the second race whtn the odds are 3:1against. He is not prepard to bet that both horses will win whenthe odds for this event offered are 15:1 against. If the two races are indenpendent, is bob consistent in hisbetting behavior? Explain the reaseon. Bob is prepared to make a bet that punter's Folly will win thefirst race when the odds are 2:1 against. He is prepared to make abet Gambler's Ruin will win the second race whtn the odds are 3:1against. He is not prepard to bet that both horses will win whenthe odds for this event offered are 15:1 against. If the two races are indenpendent, is bob consistent in hisbetting behavior? Explain the reaseon.

Explanation / Answer

No, he is not
When two events, A and B, are independent, the probability of bothoccurring is: P(A and B) = P(A) · P(B) So 1/3*1/2=1/15 With his betting behevior, he would bet this.

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---