Determine the Number of Outcomes That Comprise the Specified Event

question 93

Multiple Choice

Determine the number of outcomes that comprise the specified event.
-Suppose you are playing a game of chance. If you bet $5 on a certain event, you will collect $150 (including your $5 bet) if you win. Find the odds used for determining the payoff.

• A)29 to 1
• B)30 to 1
• C)150 to 155
• D)1 to 29

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Definitions:

Risks And Rewards

Risks and rewards are the potential negative and positive outcomes respectively, associated with taking a certain action or decision.

Backchannel

Nonverbal or verbal signals used by listeners to indicate understanding, engagement, or agreement with the speaker.

Live Blogging

The act of providing real-time commentary and updates on an event as it happens, usually online and in a continuous feed.

Texting

The act of sending and receiving short messages, typically via mobile phones, using SMS (Short Message Service) or messaging apps.