SOLUTION: If the probability an event is 0.35, what are the odds for this event?

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Question 1038884: If the probability an event is 0.35, what are the odds for this event?
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
probability equals the number of success divided by the total.

odds for equal the number of successes divided by the number of failures.

odds against equal the number of failure divided by the number of successes.

your probability of success is equal to .35.

this means the probability of failure equals .65.

your odds of success are therefore equal to .35 / .65.

your odds of failure are therefore equal to .65 / .35

you can simplify these if you wish, or if you are required to, but the ratio remains the same.

.35/.65 = 35/65 = 7/13.

.65/.35 = 65/35 = 13/7.

if you let p = the probability of success and you let q = the probability of failure, then you get:

probability of success = p / (p + q).

probability of failure = q / (p + q).

odds of success = p / q.

odds of failure = q / p.

if you are given probability of success, you can convert it to odds by doing the following.

probability of success = p / (p + q).

subtract p from (p + q) to get q and the odds of success are p / q.

in your problem, you are given that probability of success = .35.

the total probability is always equal to 1.

subtract .35 from 1 and you get .65.

the odds of success are therefore equal to .35 / .65.