Question 1140577: The odds against a 65 year old living to the age of 80 are 11:7. Find the probability that a 65 year old lives to age 80.
Answer by greenestamps(13203)   (Show Source):
You can put this solution on YOUR website!
The ODDS IN FAVOR OF an event, usually expressed as a ratio A:B, compares the number of favorable outcomes (A) to the number of unfavorable outcomes (B).
The PROBABILITY of an event, usually expressed as a fraction, compares the number of good outcomes to the total number of outcomes. For the odds A:B, the total number of outcomes is A+B; so the corresponding probability is A/(A+B).
For your example....
Odds AGAINST living to 80 = 11:7
--> Odds IN FAVOR of living to 80 = 7:11
--> Probability OF living to 80 = 7/(7+11) = 7/18
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