Question 1033668
the odds against general motors are 6 to 1.
the probability it will not be general motors is therefore 6 / 7.
this means the probability it will be general motors is 1 / 7.


the odds against toyota are 12 to 5.
the probability it will not be toyota is therefore 12 / 17.
this means the probability it will be toyota is 5 / 17.


the odds against ford are 8 to 3.
the probability it will not be ford is therefore 8 / 11.
this means the probability it will be ford is 3 / 11.


a) Find the probability that General Motors will have the largest market share for SUVs in the coming quarter.

answer is 1/7.


b) Find the the probability that Toyota will have the largest market share for SUVs in the coming quarter. 

answer is 5/17.


about the simplest explanation of odds and probabilities can be found here:
<a href = "http://www.had2know.com/academics/calculate-odds-probability.html" target = "_blank">http://www.had2know.com/academics/calculate-odds-probability.html</a>


let s = number of successes.
let f = number of failures.


probability of success = s / (s+f)


probability of failure = f / (s+f)


odds in favor of success = s / f


odds against success = f / s