praveenbaranwal wrote:
Jim goes to the track with $150 in his pocket. His favorite horse, Major, is running three races against four other horses. Each competing horse has an equal chance of winning and Jim bets in all three races, $50 per race. What is the probability of Jim leaving the track with money in his pocket?
(A) 1/125
(B) 1/5
(C) 61/125
(D) 64/125
(E) 4/5
The question stem has the following information
1. Major is running three races with four other horses(Total : 3 races - 5 horses/race)
2. What is the probability that Jim leaves the track with money (Probability he doesn't lose all 3 races)
The probability of Major losing
- one of the races is \(\frac{4}{5}\)
- all 3 races is \((\frac{4}{5})^3 = \frac{64}{125}\)
Therefore, the probability that Jim leaves the track with money is 1 - P(Major losing all 3 races) = \(1 - \frac{64}{125} = \frac{61}{125}\)
(Option C)
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