SOLUTION: Hello. I am beginning a unit on probability, and the question is as follows: "Explain how the probability of an event differs from the odds in favor of the event when all outcomes
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-> SOLUTION: Hello. I am beginning a unit on probability, and the question is as follows: "Explain how the probability of an event differs from the odds in favor of the event when all outcomes
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Question 972953: Hello. I am beginning a unit on probability, and the question is as follows: "Explain how the probability of an event differs from the odds in favor of the event when all outcomes are equally likely." However, I cannot see how they differ. For example, if I have a 6 sided die, and the event is rolling a 1, the probability is 1/6, and the odds in favor of it are also 1/6. Please help me! Answer by macston(5194) (Show Source):
You can put this solution on YOUR website! .
Probability of x is given by :
The probability of rolling the one is 1/6.
Odds are given by:
Odds=chances for:chances against
The chance of rolling a one is 1 in 6
The chance against rolling a 1 is (1-chance of rolling 1)=5/6
So odds of rolling a 1 :
1/6:5/6=1:5
1 to 5 (1 chance to roll a 1 to 5 chances of rolling something else)
The difference being probability uses total chances and odds use chances against.
