SOLUTION: If the odds in favor of pink are 31%, then what is the probability(pink)

Question 967152: If the odds in favor of pink are 31%, then what is the probability(pink)
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
If the odds in favor of pink are 31%, then what is the probability(pink)
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Note:: Odds For = P(for)/P(against)
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Equation:
31/100 = P(pink)/P(not pink)
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P(pink) = 0.31*(1-P(pink))
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P(pink) = 0.31 - 0.31(pink)
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1.31*P(pink) = 0.31
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P(pink) = 0.31/(1.31) = 0.23664
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Cheers,
Stan H.
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