Don't copy the ans.

Question B3: A bookmaker's gambling odds fora recent English Premier League match between Norwich (at home) and Brighton and Hove Albion are as follows: Home Win: 135; Draw: 23!\"); Away Win: 11!10 Compute and interpret the bookmaker's 'over-round' (or prot margin) on this match. In the early 19903, the bookmakers 'over-round' for this type of xture would be about 12%. Outline what you think might explain the change in the magnitude of the 'over-round' since that time. [10 marks]