QUESTION THREE In a horse race, the odds that Romance will win are listed as 2:3 and that Downhill will win are
1:2. What odds should be given for the event that either Romance or Downhill wins? (3 mks)
OUTSTION FOUR

Odds to be given for an event that either Romance or Downhill wins is 11:4

Explanation:

Given an odd, r = a : b. The probability of the odd, r can be determined by;

     Pr(r) = ÷ (

So that;

Odd that Romance will win = 2:3

Pr(R) = ÷ (

        = ÷

       =

Odd that Downhill will win = 1:2

Pr(D) = ÷ (

        =   ÷

        =

The probability that either Romance or Downhill will win is;

Pr(R) + Pr(D) = +  

                    =

The probability that neither Romance nor Downhill will win is;

Pr(neither R nor D) = (1 - )

                               =

The odds to be given for an event that either Romance or Downhill wins can be determined by;

                               = Pr(Pr(R) + Pr(D)) ÷ Pr(neither R nor D)

                               = ÷

                              =

Therefore, odds to be given for an event that either Romance or Downhill wins is 11:4