When the horse Super Saver won the 136th Kentucky Derby, a $2 bet that Super Saver would win resulted in a return of $18.
a. How much net profit was made from a $2 win bet on Super Saver?
b. What were the payoffs odds against a Super Saver win?
c. Based on preliminary wagering before the race, bettors collectively believed that Super Saver had a 0.093 probability of winning. Assuming that 0.093 was the true probability of a Super Saver victory, what were the actual odds against his winning?
d. If the payoff odds were the actual odds found in part (c), how much would a $2 win ticket be worth after the Super Saver win?

  • CreatedMay 03, 2015
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