For a certain horse race comma the odds in favor of a certain horse finishing in second place are given as 7 to 93. Express the indicated degree of likelihood as a probability value between 0 and 1 inclusive. The probability is nothing.(Round to two decimal places as needed.)

If the event that a certain horse places second has 7 to 93 odds, it means that out of 7+93 trials, the horse is expected to finish in second place in 7 trials and to not finish in second in 93 trials. The degree of likelihood expressed as a value between 0 and 1 is:

[tex]P=\frac{7}{7+93}\\P=0.07[/tex]

The probability is 0.07.

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For a certain horse race comma the odds in favor of a certain horse finishing in second place are given as 7 to 93. Express the indicated degree of likelihood as a probability value between 0 and 1 inclusive. The probability is nothing.​(Round to two decimal places as​ needed.)

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For a certain horse race comma the odds in favor of a certain horse finishing in second place are given as 7 to 93. Express the indicated degree of likelihood as a probability value between 0 and 1 inclusive. The probability is nothing.(Round to two decimal places as needed.)