Math Problem Statement
Solution
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Math Problem Analysis
Mathematical Concepts
Probability
Odds
Payoff
Formulas
Probability of winning = (Number of winning outcomes) / (Total number of outcomes)
Odds against winning = (Number of losing outcomes) / (Number of winning outcomes)
Payoff = Bet Amount × Payoff Odds
Theorems
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Suitable Grade Level
Grades 9-12
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