Two friends decide to go to the track and place some bets. One friend remarks that in an upcoming​ race, the #3 horse is paying 45 to 1. This means that anyone who bets on the #3 horse receives $45 for each​ $1 bet, if in fact the #3 horse wins the race. He goes on to mention that it is a great​ bet, because there are only 5 horses running in the​ race, and therefore the probability of horse #3 winning must be 1/5. Is the last statement true or​ false? Explain.

Answer rating: 100% (QA)

False This statement means like there is 50 probability for me to win a race with Usain bolt Gr... View the full answer