Here’s a frightening thought, today Sarah Palin may have a greater probability of becoming president than John McCain. The betting markets are currently giving McCain about a 16% chance of winning. If McCain wins then let’s assume that all things considered Palin has a 40% chance of becoming president (either if McCain dies in office or as his successor). If McCain loses many people suggest Palin could be a future Republican leader so let’s put her chances of becoming president in that scenario at 12%. Thus:
Pr(Sarah Palin=President) = .16*.4 + .84*.12 = 16.48 > 16% = Pr(John McCain = President).