SOLUTION: The odds against a 65 year old living to the age of 80 are 11:7. Find the probability that a 65 year old lives to age 80.

Question 1140577: The odds against a 65 year old living to the age of 80 are 11:7. Find the probability that a 65 year old lives to age 80.
Answer by greenestamps(13203) (Show Source): You can put this solution on YOUR website!

The ODDS IN FAVOR OF an event, usually expressed as a ratio A:B, compares the number of favorable outcomes (A) to the number of unfavorable outcomes (B).

The PROBABILITY of an event, usually expressed as a fraction, compares the number of good outcomes to the total number of outcomes. For the odds A:B, the total number of outcomes is A+B; so the corresponding probability is A/(A+B).

For your example....

Odds AGAINST living to 80 = 11:7

--> Odds IN FAVOR of living to 80 = 7:11

--> Probability OF living to 80 = 7/(7+11) = 7/18

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