AnswersOK-Personal Financial Literacy S1 – EDGNTY-83861 26-27Gambling, Probabilities, and Odds

Gambling, Probabilities, and Odds Answers

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1
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Which is an accurate statement regarding sports betting?

A
Sports betting may include spreads and parlays.
B
Non-monetary bets may be placed on statistics for a player.
C
The player has more control over placed bets, therefore, it may not be as harmful in the long run.
D
Betting odds reflect the player’s estimation of the difference in quality between the teams playing.
2
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A ten-sided die with sides numbered 1 through 10 is rolled once.What is the probability of rolling a number less than 5?

A
P(less than 5) = 1/2
B
P(less than 5) = 2/5
C
P(less than 5) = 2/3
D
P(less than 5) = 4/5
3

What is the meaning of odds?

A
the ratio that represents the extent to which something is probable
B
the ratio that reflects the chance or likelihood that a particular event will occur
C
the ratio of the number of favorable outcomes to the number of possible outcomes
D
the ratio of the probability of an outcome occurring to the probability that the outcome will not occur
4

Refer to the spinner in the diagram.

Question illustration
A
P(blue or green) = 1/1
B
P(blue or green) = 1/2
C
P(blue or green) = 1/4
D
P(blue or green) = 1/3
5

Use the outcomes for the roll of two dice as shown.

Question illustration
A
P(sum of 11) = 1/12
B
P(sum of 11) = 1/17
C
P(sum of 11) = 1/18
D
P(sum of 11) = 1/24
6

You built a new company that aims to prevent and provide support to young people experiencing gambling harm.Which is a vital component to help protect young people from gambling harm?

A
playing cards
B
visiting lottery offices
C
risks staying at casinos
D
explaining gambling risks
7

Which is a benefit of gambling?

A
lower taxes
B
more traffic
C
fewer small businesses
D
higher use of social services
8

Lately, Karla has been tired and not as productive at work. She has been late more than usual. She received an email from her boss about some unusual withdrawals and purchases on her company credit card.Which action is most likely a sign that Karla could have a problem with gambling?

A
tiredness
B
works late
C
unusual withdrawals
D
productive at work
9

Use the outcomes for the roll of two dice as shown.

Question illustration
A
1:3
B
1:6
C
11:25
D
11:36
10

What is the meaning of probability?

A
the desired outcome of an experiment or activity
B
a number that reflects the chance or likelihood that a particular event will occur
C
a number that reflects all possible outcomes of experiment to those that cannot occur
D
the likelihood of the occurrence of one outcome rather than the occurrence of another outcome

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