SOLUTION: If the probability of an event is 0.7, what are the odds in favor of the event?

Algebra ->  Probability-and-statistics -> SOLUTION: If the probability of an event is 0.7, what are the odds in favor of the event?       Log On


   

Question 500434: If the probability of an event is 0.7, what are the odds in favor of the event?
Answer by Edwin McCravy(20064) About Me  (Show Source):
You can put this solution on YOUR website!
If the probability of an event is 0.7, what are the odds in favor of the event? 

Write the decimal 0.7 as a fraction 7%2F10.  It doesn't reduce.

probability = 0.7 = 7%2F10, which means 7 successes out of 10 trials, 
which means 7 successes to 10-7 = 3 failures

Odds in favor means successes : failures, so that's 

7 successes to 3 failures or  7:3

Edwin