If the odds against a team winning a tournament are 7:1. what is the probability that they will win?
To find the probability of an event, you can use the formula:
Probability = 1 / (1 + Odds against)
In this case, the odds against the team winning are 7:1. So, the probability of them winning would be:
Probability = 1 / (1 + 7) = 1/8
Therefore, the probability of the team winning the tournament is 1/8 or 0.125 or 12.5%.