The probability of an event E not occurring is 0.4. What are the odds in favor of E occurring?
2 Answers
Explanation:
An event must either occur (
Therefore the sum of the probabilities of an event occurring and an event not occurring must be equal to 100%
That is
Given that
This implies that
The odds in favour of
Explanation:
An odds in favour is a ratio of "how likely an event is to occur" to "how likely it is to NOT occur". This can be derived from
#"number of favourable outcomes"/"number of unfavourable outcomes"#
or
#"proability of event occuring"/"probability of event not occurring"#
and is usually expressed in colon notation as
Given
#"P"(E)=1-"P"(E^"C")#
#color(white)("P"(E))=1-0.4#
#color(white)("P"(E))=0.6#
which gives
#"odds"(E)="P"(E):"P"(E^"C")#
#color(white)("odds"(E))=0.6:0.4#
This can be scaled up by 5, so that both numbers in the odds are whole numbers:
#"odds"(E)=0.6xx5" ":" ""0.4xx5#
#color(white)("odds"(E))=3:2# .