Consider an even money game that pays 7: 5 if event a occurs. what is the probability of event a? a. 7/5 b. 5/7 c. 5/12 d. 7/12

Given that an even moneyed game pays 7:5 if event A occurs, then the probability of an event A occurring will be as follows:
The odds of the games is 7:5
this means that the chances of event A occurring is far much less than the probability of the complement event occurring.
thus the probability of event A occurring will be
5/(7+5)
=5/12
C] 5/12