Two people have different opinions on the Tennessee and Florida game to be played tonight. One person supports Tennessee and is willing to offer 11 to 10 odds; the other person supports Florida and is willing to offer 5 to 3 odds. Go through the analysis to determine how much to bet with each person. If Heili has $100 to invest, how much is she assured of earning?

2. Two people have different opinions on the Tennessee and Florida game to be played tonight. One person supports Tennessee and is willing to offer 11 to 10 odds; the other person supports Florida and is willing to offer 5 to 3 odds. Go through the analysis to determine how much to bet with each person. If Heili has $100 to invest, how much is she assured of earning? 3. In the above discussion, it is shown how to convert specied odds from a \"fair bet\" into the gambler's belief about the likelihood of an event happening. The following are related. (a) Torik gives 5:3 odds that someone will walk in late for class tomorrow. What probability does he assign for this event? (b) Mikko believes there is a 60% chance that at least ve students from this class will be at the next basketball game. If he were to set up odds, what would they be? (c) Change the 60% to 75%. Now what would be the odds