A sample of horses admitted to a local veterinary hospital had the following distribution of mares, geldings, and stallions. 
If we assume that the horses constitute a random sample of all horses in the state, then we estimate the probability that a randomly selected horse is a stallion to be:
Definitions:
Annualized Return
A rate of return that standardizes an investment's earnings to a one-year period, making comparison with other investments easier.
Holding Period
The length of time an investment is held by an investor before being sold.
Riskless Arbitrage
A financial strategy that aims to profit from discrepancies in the price of identical or similar financial instruments on different markets or in different forms without risk.
Spot Oil Prices
The current market price at which oil can be bought or sold for immediate delivery.
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