Suppose you are playing a game of chance. If you bet $2 on a certain event, you will collect $92 (including your $2 bet), if you win. FInd the odds used for determining the payoff

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Mathematics

Kelsie Stanton

25 September, 03:29

Suppose you are playing a game of chance. If you bet $2 on a certain event, you will collect $92 (including your $2 bet), if you win. FInd the odds used for determining the payoff

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Xiomara Guerrero · Answer 1

Even odds 1/1 would be collecting $5 back, so you get 10/5 and you calculate the odds from (10 - 5) / 5. So 11/5 back is (11 - 5) / 5 = 110/5 = 22/1 odds.