SOLUTION: If the probability of not winning is 0.526, what are the odds for winning?

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Question 748226: If the probability of not winning is 0.526, what are the odds for winning?
Found 2 solutions by Edwin McCravy, AnlytcPhil:
Answer by Edwin McCravy(20054) About Me  (Show Source):
You can put this solution on YOUR website!
what are the odds for winning?
%28matrix%285%2C1%2C%0D%0AODDS%2CIN%2CFAVOR%2COF%2CWINNING%29%29%22%22=%22%22%28matrix%283%2C1%2C%0D%0APROBABILITY%2COF%2CWINNING%29%29%22%3A%22%28matrix%283%2C1%2C%0D%0APROBABILITY%2COF%2CLOSING%29%29

the probability of not winning is 0.526
That's the probability of losing.

So the probability of winning is 1 - 0.526 = 0.474

%28matrix%285%2C1%2C%0D%0AODDS%2CIN%2CFAVOR%2COF%2CWINNING%29%29%22%22=%22%22 0.474 : 0.526

Multiply both parts of the ratio by 1000

%28matrix%285%2C1%2C%0D%0AODDS%2CIN%2CFAVOR%2COF%2CWINNING%29%29%22%22=%22%22 474 : 526

Divide both parts of the ratio by 2

%28matrix%285%2C1%2C%0D%0AODDS%2CIN%2CFAVOR%2COF%2CWINNING%29%29%22%22=%22%22 237 : 263

Edwin

Answer by AnlytcPhil(1806) About Me  (Show Source):
You can put this solution on YOUR website!
what are the odds for winning?
%28matrix%285%2C1%2C%0D%0AODDS%2CIN%2CFAVOR%2COF%2CWINNING%29%29%22%22=%22%22%28matrix%283%2C1%2C%0D%0APROBABILITY%2COF%2CWINNING%29%29%22%3A%22%28matrix%283%2C1%2C%0D%0APROBABILITY%2COF%2CLOSING%29%29

the probability of not winning is 0.526
That's the probability of losing.

So the probability of winning is 1 - 0.526 = 0.474

%28matrix%285%2C1%2C%0D%0AODDS%2CIN%2CFAVOR%2COF%2CWINNING%29%29%22%22=%22%22 0.474 : 0.526

Multiply both parts of the ratio by 1000

%28matrix%285%2C1%2C%0D%0AODDS%2CIN%2CFAVOR%2COF%2CWINNING%29%29%22%22=%22%22 474 : 526

Divide both parts of the ratio by 2

%28matrix%285%2C1%2C%0D%0AODDS%2CIN%2CFAVOR%2COF%2CWINNING%29%29%22%22=%22%22 237 : 263

Edwin