SOLUTION: Suppose the probability of selling a car today is 0.32. Find the odds against selling a car today?
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Question 354229: Suppose the probability of selling a car today is 0.32. Find the odds against selling a car today?
Found 2 solutions by sudhanshu_kmr, ewatrrr:
Answer by sudhanshu_kmr(1152) (Show Source): You can put this solution on YOUR website!
Probability of selling car = 0.32
then probability of not selling car = 1 - 0.32 = 0.68
the odds against = 0.68/0.32
= 17/8
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Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
HI,
.
If the probability of selling a car today = 0.32 = 32/100 = 8/25
.
Then the ODDS of selling a car would be 8/(25-8)= 8/17
or 8:17 woud be the odds in favor (Number of Successes : Number of Failures)
.
ODDS aginst selling a car today are 17:8 (Number of Failures : Number of Successes )
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