The odds on (against) your bet are 6 to 5. If you bet $50 and win,...
The odds on (against) your bet are 6 to 5. If you bet $50 and win, how much will you gain? $_? (Type an integer or a decimal.)
Homework Answers
for this game to be fair :
expected value of win =odds against your bet*your bet value
here,
odd against your bet = 6/5
bet value = 50
your gain =6/5 * 50
= $ 60
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