The odds against WildHorse winning the third race are 11:2. If Molly places a $4 bet on WildHorse to win and WildHorse wins, find Molly’s net winnings
A) $5.50 B) $44 C) $16.50 D) $11 E) $22
The net profit on every $2 is $11.
So if you bet $2 and win you will get your two dollars back plus the eleven. Your net winnings is your gain which is the eleven.
Of course if you bet $4 instead of $2, you will get twice as much.
How many different four-digit numbers can be formed from the digits 0 through 9 if the first digit must be even and cannot be zero?
To find Molly's net winnings, we need to calculate her profit.
The odds against WildHorse winning the race are 11:2, which means that for every 11 unsuccessful outcomes, there are 2 successful outcomes.
To calculate Molly's profit, we first need to determine the total amount she would win if WildHorse wins the race.
Let's denote the amount Molly bet as x. Since she placed a $4 bet on WildHorse to win, we have x = $4.
The amount Molly would win if WildHorse wins is given by the formula:
Total Winnings = (Amount Bet) * (Odds + 1)
In this case, the odds against WildHorse winning are 11:2. So, the odds are 11 / 2 = 5.5.
Plugging in the values, we have:
Total Winnings = $4 * (5.5 + 1) = $4 * 6.5 = $26
Molly's net winnings can be calculated by subtracting the amount she bet from her total winnings:
Net Winnings = Total Winnings - Amount Bet = $26 - $4 = $22
Therefore, Molly's net winnings are $22.
The answer is: E) $22