Suppose that according to one expert, Rutgers has a 62.5% chance of winning its next game against the University of Maryland.

a. Describe the smallest possible ideal data set for this experiment;

• how many games are in such an ideal data set,
• how many of these does Rutgers win, and
• how many does Maryland win?Represent this ideal data set using a strip diagram, and find the odds in favor of Rutgers winning.

b. If another expert has a different opinion of Rutgers' chances of winning, and asserts that the odds are 7:5 in favor of Rutgers, then how would this person state Rutgers' probability of winning?

c. If the expert in part (c) of this question is willing to bet on Rutgers, in such a way that if Rutgers wins he receives $10, but if Maryland wins he has to pay $15, what is the expected value of this bet (per game, from the expert's point of view)? Is it a winning proposition in the long run, or a losing one, or a fair game?

d. If the expert in part (c) of this question is willing to bet on Rutgers, in such a way that if Rutgers wins he receives $10, but if Maryland wins he has to pay $15, what is the expected value of this bet (per game, from the expert's point of view)? Is it a winning proposition in the long run, or a losing one, or a fair game?