[Step-by-Step] According to your neighborhood bookie, there are five horses scheduled to run in the third race at the local track, and handicappers have assigned
Question:
According to your neighborhood bookie, there are five horses scheduled to run in the third race at the local track, and handicappers have assigned them the following probabilities of winning:
Horse
Probability of Winning
Scorpion 0.10
Starry Avenger 0.25
Australian Doll 0.15
Dusty Stake 0.30
Outandout 0.20
Suppose that Australian Doll and Dusty Stake are scratched from the race at the last minute. What are the chances that Outandout will prevail over the reduced field?
Deliverable: Word Document 