Odds: the probability that Bayern Munich wins the Bundesliga next year is (81.25 %). (a) Find (o_{f})
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Odds: the probability that Bayern Munich wins the Bundesliga next year is \(81.25 \%\).
(a) Find \(o_{f}\) as a decimal number.
(b) Find \(o_{f}\) as an integer fraction \(a: b\).
(c) Find \(o_{a}\).
(d) Find the continental European odds.
(e) What is the fair price for a bet that gives you a return of 100 euro if Bayern Munich wins the Bundesliga next year?
(f) If you bet 100 euro with the odds given above, and Bayern Munich wins the Bundesliga, how much do you win?
(g) A British bookmaker offers you odds of 1:10 against. Would it pay to place the bet that Bayern Munich wins the Bundesliga with him?
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Related Book For
The Bayesian Way Introductory Statistics For Economists And Engineers
ISBN: 9781119246879
1st Edition
Authors: Svein Olav Nyberg
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