suppose the odds of a horse winning a race are 20 to 1. what is the probability of the horse winning the race?

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15-11-2022
Mathematics

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suppose the odds of a horse winning a race are 20 to 1. what is the probability of the horse winning the race?

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NGireesh NGireesh · Answer 1 · 2022-11-19T14:58:46-05:00

The probability of the horse winning the race is 0.95 when the odds of a horse winning a race are 20 to 1.

Define probability.

The area of mathematics known as probability deals with numerical representations of the likelihood that an event will occur or that a statement is true. An event's probability is a number between 0 and 1, where, roughly speaking, 0 denotes the event's impossibility and 1 denotes certainty. The three different categories of probabilities are axiomatic, experimental, and theoretical. Based on formulas and input quantities, the theoretical probability determines the likelihood. Based on the experimental values used in the computation, the experimental probability provides a realistic number. The results of theoretical and experimental probabilities frequently diverge. Additionally, the axiomatic probability is founded on the axioms that control probability notions.

Given,

The odds of a horse winning a race are 20 to 1.

The probability of the horse winning the race is:

20/21

0.95

The probability of the horse winning the race is 0.95 when the odds of a horse winning a race are 20 to 1.

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