A horseracing bookie claims that for a certain horse, the probability that it fi

Question

A horseracing bookie claims that for a certain horse, the probability that it finishes in fifth place or better, event A, is 0.35 and the probability that it finishes in the top three, event B, is 0.45. Explain why these probabilities are not consistent with the axioms of probability OB is a subset of A, so P(B) must be less than or equal to P(A) 0 A is a subset of B, so P(B) must be less than or equal to P(A) none of these O A is a subset of B, so P(A) must be less than or equal to P(B) O B is a subset of A, so P(A) must be less than or equal to P(B)

Explanation / Answer

Solution:-

B is a subset of A, so P(B) must be less than or equal to P(A).

P(A) = Horse finishes in fifth place or better.

P(B) = Horse finishing in top three

P(B) < P(A)

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