Question 4 & 5 please

4. You're considering placing a wager on a horse race. The horse you're considering is a long- shot; the odds are 19 to 1. That means that for every dollar you wager, you'd win $19 in profit (which means $20 total in your pocket afterwards). How probable must it be that the horse will win for this to be a good wager in the sense that the expected value is greater than the amount bet)? 5. I'm looking for a good deal in the junk bond market. These are highly risky corporate bonds; the risk is compensated for with higher yields. Suppose I find a company that I think has a 25% chance of going bankrupt before the bond matures. How high of a yield do I need to be offered to make this a good investment (again, in the sense that the expected value is greater than the price of the investment)? 4. You're considering placing a wager on a horse race. The horse you're considering is a long- shot; the odds are 19 to 1. That means that for every dollar you wager, you'd win $19 in profit (which means $20 total in your pocket afterwards). How probable must it be that the horse will win for this to be a good wager in the sense that the expected value is greater than the amount bet)? 5. I'm looking for a good deal in the junk bond market. These are highly risky corporate bonds; the risk is compensated for with higher yields. Suppose I find a company that I think has a 25% chance of going bankrupt before the bond matures. How high of a yield do I need to be offered to make this a good investment (again, in the sense that the expected value is greater than the price of the investment)