SOLUTION: Currently Samsung ships 24.8 percent of the organic light-emitting diode (OLED) displays in the world. Let S be the event that a randomly selected OLED display was made by Samsung.

Algebra ->  Probability-and-statistics -> SOLUTION: Currently Samsung ships 24.8 percent of the organic light-emitting diode (OLED) displays in the world. Let S be the event that a randomly selected OLED display was made by Samsung.      Log On


   

Question 1197903: Currently Samsung ships 24.8 percent of the organic light-emitting diode (OLED) displays in the world. Let S be the event that a randomly selected OLED display was made by Samsung. solve for p(s) p(s') odds in favor of event s odds against event s'
Found 2 solutions by Theo, ikleyn:
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
p = 24.8% / 100 = .248
q = 1 - .248 = .752
p is the proportion of light emitting diodes that are shipped by samsung.
q is the proportion of light emitting diodes that are not shipped by samsung.
q is equal to 1 - p
p(s) is the probability that a randomly selected oled display was shipped by samsung.
p(not s) is the probability that a randomly selected oled display was not shipped by samsung.
odds in favor = p(s) / p(not s) = .248 / .752
odds against = p(not s) / p(s) = .752 / .248
p(s) = p(s) / ((p(s) + p(not s)) = .248 / (.248 + .752) = .248 / 1 = .248
p(not s) = p(not s) / (p(s) + p(not s) = .752 / (.248 + .752) = .752 / 1 = .752

p(not s) is the same as p(s')

here's a reference on probability and odds.
https://sphweb.bumc.bu.edu/otlt/mph-modules/bs/bs704_confidence_intervals/BS704_Confidence_Intervals10.html#:~:text=The%20probability%20that%20an%20event,the%20event%20will%20not%20occur.



Answer by ikleyn(52778) About Me  (Show Source):
You can put this solution on YOUR website!
.

The odds in favor of event s against event s' are  248 : (1000-248), which is the same as 248 : 752,

or, after canceling the greatest common divisibility factor of 8, 31 : 47.       ANSWER

Solved.

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In order for do not confuse yourself and other people around, do not use the symbol p(s) for odds,
since p(s) is the standard designation symbol for the probability, which is close, but still different conception from the odds.