Question: I only need the help for part d) and f) I'm of many kinds of bets You can make on a home race are Will
I only need the help for part d) and f)



I'm of many kinds of bets You can make on a home race are" Will " and" Place " . In each of these You nominate a home , Bar" daddy", pay some money / your* stake"; and maybe Fit some Injury back Inour* payout" ] ."The parent , if paid, is stakes odds, where" odds " Is A Timber greater than I specified by the betting agency . The odds number is different for Win and Place . You will get the payout if, and only if* Win : Neddy will the race . Place : Neddy is " placed " in the race ; i.e . Neddy comes Ist , and or and in a race with At least Eight horses , or comes Ist or and in a race with from five to seven horses. Place bets are not allowed on races with less than five horses . Your return " or " profit " on the bet is payout -stake , I and is usually negative ! !. At the Canberra races You fancy Neddy's chances in Face I /IN-horses] ."You estimate he has In' chance of winning a lu^' chance of coming in and or And , and . consequently , A GO` chance of being Inplaced . The bookmaker offers odds of `. all on a will and ?. } all #` place . Based on Your estimated probabilities find the expected return all ! ( a)" BID on Neddy to will " la Win bet with BID stake] .I'll Race ?' I'D horses ! You consider betting on Kelly at odds of Win }}. on, Place: 5.0` 'd') At what probability of Nelly winning would a " ill bet on Nelly have an expectedif'; In fact, You believe Nelly has a `` chance of winning and a `` chance of coming and. At these probabilities , what is Your expected return on a $I'l each - way bet on her?"
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