The following amounts are bets on horses A,B,C,D, and E to win. Suppose the track wants to

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The following amounts are bets on horses A,B,C,D, and E to win.

Suppose the track wants to take 20% off the top, namely, $200,000. Determine the payoff for winning with a $2 bet on each of the five horses. (In this exercise, we do not concern ourselves with “place” and “show.”)

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Introduction To Mathematical Statistics

ISBN: 9780321794710

7th Edition

Authors: Robert V., Joseph W. McKean, Allen T. Craig

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Question Posted: Oct 17, 2022 04:06 AM

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The following amounts are bets on horses A,B,C,D, and E to win. Suppose the track wants to

Question:

Horse A B C D E Total Amount $600,000 $200,000 $100,000 $75,000 $25,000 $1,000,000

Step by Step Answer:

Given that the total amount bet on all horses is 1000000 the track will take 20 of that ...View the full answer

Introduction To Mathematical Statistics

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