Questions: If the odds on a bet are 38:1 against, what is the probability of winning? Express your answer as a fraction. Answer How to enter your answer (opens in new window)

$If the odds on a bet are 38:1 against, what is the probability of winning? Express your answer as a fraction. Answer How to enter your answer (opens in new window)$

Transcript text: If the odds on a bet are 38:1 against, what is the probability of winning? Express your answer as a fraction. Answer How to enter your answer (opens in new window)

Solution

Solution Steps

Step 1: Given Odds Against

The given odds against are $38:1$.

Step 2: Calculate Total Outcomes

To find the total number of possible outcomes, add the numbers representing the odds: \[ \text{Total outcomes} = 38 + 1 = 39 \]

Step 3: Calculate Winning Outcomes

The number of winning outcomes is given by the second number in the odds: \[ \text{Winning outcomes} = 1 \]

Step 4: Calculate Probability of Winning

The probability of winning is the ratio of the number of winning outcomes to the total number of possible outcomes: \[ \text{Probability of winning} = \frac{1}{39} \]

Final Answer

\[ \boxed{\frac{1}{39}} \]

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