Answer:
indicated degree of likelihood is 0.09.
Step-by-step explanation:
As it was informed by the question the odds of the horse winning second place is equal to [tex]\frac{9}{91}[/tex]. To express the indicated degree of likelihood we use the following formula:
[tex]odds = \frac{p}{1-p}[/tex]
We need to find probability.
[tex]\frac{9}{91} = \frac{p}{1-p} \Rightarrow \frac{9p}{91} + p = \frac{9}{91} \Rightarrow p(\frac{9}{91} + 1) = \frac{9}{91} \Rightarrow \frac{100p}{91} = \frac{9}{91} \Rightarrow 100p = 9 \Rightarrow p = \frac{9}{100} = 0.09\\\[/tex]
So the indicated degree of likelihood is 0.09.
