What is the relationship between probability and percent?

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Sep 30, 2016

It's a matter of converting between a fraction and a percentage .

Remember that the word 'percent' really means 'per hundred'.
(and you are in fact converting from dollars to cents and back)

So if you have a probability of #0.11# you can rewrite this as
#0.11=11/100=11%# (or #$0.11=11 cents#)

And the other way around, if you have a chance-percentage of #45%# you can rewrite this as:
#45%=45/100=0.45# (or #45cents=$0.45#)

The rule:
Fraction#->#percentage = times 100
Percentage #-># fraction = divide by 100

That's all there is to it.

One more thing:
In probabilities you never have more than #$1# or #100%#

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