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Question: 16 suppose at an offtrack betting facility just before the...

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16. Suppose at an off-track betting facility, just before the four horse race starts, it is learned that 600 dollar bets have been made on A, 300 on B, 400 on C, and 200 on D. In order for the owner to earn 3 cents on each dollar bet, determine the pay-off, or winnings, for each horse.
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