What Is The Chance To Obtain $1,000,000?

Austin and Betty are entrepreneurs with many ideas. They need initial investment. A venture capitalist Craig decides to invest one million dollars  in a new business.  One at a time, Austin and Betty ask Craig for the initial investment in a new business.

Austin starts first and he has 25% chance to convince Craig in an attempt. Austin and Betty have equal chances to get $1,000,000 at the end.

What is Betty’s probability to get $1,000,000 in a single attempt?

Answer

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