On sunday july 11 2010 spain and the netherlands played in, Management Theories

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On sunday july 11 2010 spain and the netherlands played in

Question: On Sunday, July 11, 2010, Spain and the Netherlands played in the 2010 World Cup Final in Johannesburg. On the eve of the final, many betting lines were offering Spain's odds for winning at 15:8 (Oddschecker website).

a. Spain won the World Cup. Suppose you had bet $1,000 on Spain. What was your net gain? If Spain had lost, what would have been your net loss?

b. What was the implied probability of Spain winning the final?

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