SOLUTION: These probability questions are a duzy for me. Can you help More odds. We can calculate odds if we know the probability. But we can also go the other way. Suppose the odds

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Question 1039888: These probability questions are a duzy for me. Can you help

More odds. We can calculate odds if we know the probability. But we can also go the other way. Suppose the odds in favor of an event are 3 to 2.We can interpret this as saying that there are three (equally likely) favorable outcomes and two unfavorable ones. That is a total of five outcomes. So the probability of the event occurring is 3/5. In general, if the odds in favor are p to q, then the probability is p/(p + q).
Suppose the odds in favor of an event are 8 to 5.
What is the probability that the event will occur? Give the probability as a decimal.
(Fill in the blank below and round your answer to 3 decimal places.)
The probability that the event will occur is .
What is the probability that the event will not occur? Give the probability as a decimal.
(Fill in the blank below and round your answer to 3 decimal places.)
The probability that the event will not occur is .


Found 2 solutions by jim_thompson5910, stanbon:
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!

Let's say we conduct 13 trials. 8 of those trials has the event happen, while the other 5 trials is where the event doesn't happen.

That's exactly what it means when they say "odds in favor are 8:5"

In this case, p = 8 and q = 5

p/(p+q) = 8/(8+5) = 8/13 = 0.615 (use a calculator for the last step)

The probability of the event occurring is 0.615

Subtract this value from 1 to get the probability of the event not occurring.

1 - 0.615 = 0.385

The probability of the event NOT occurring is 0.385


Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
More odds. We can calculate odds if we know the probability. But we can also go the other way.
Suppose the odds in favor of an event are 3 to 2.We can interpret this as saying that there are three (equally likely) favorable outcomes and two unfavorable ones. That is a total of five outcomes. So the probability of the event occurring is 3/5. In general, if the odds in favor are p to q, then the probability is p/(p + q).
Suppose the odds in favor of an event are 8 to 5.
What is the probability that the event will occur?
Give the probability as a decimal.:: Ans:: 8/(8+5) = 8/13
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(Fill in the blank below and round your answer to 3 decimal places.)
The probability that the event will occur is .:: 8/13 = 0.615
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What is the probability that the event will not occur? Give the probability as a decimal.:: 5/13 = 0.385
(Fill in the blank below and round your answer to 3 decimal places.)
The probability that the event will not occur is . 0.385
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Cheers,
Stan H.
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