Question

The odds that the Pittsburgh Penguins will win the Stanley Cup
in 2014 are 13 to 2.

a) Based upon these odds, what is the exact probability that the
Penguins will not win the Stanley Cup in 2014?

b) What is the exact probability that the Penguins will win the
Stanley Cup in both 2014 and 2015? What assumption do you need to
make to do this calculation?

Answer #1

(a)

The exact probability that the Penguins will not win the Stanley Cup in 2014 is given by:

(b)

(i)

The exact probability that the Penguins will win the Stanley Cup in both 2014 and 2015 is given by:

(ii)

Assumption do you need to make to do this calculation:

(1) Probability that the Penguins will win the Stanley Cup in 2014 and Probability that the Penguins will win the Stanley Cup in 2015 remains the same.

(2) The two Events: the Penguins will win the Stanley Cup in 2014 and the Penguins will win the Stanley Cup in 2015 are independent.

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