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7.7 What Are the Odds?

Odds in favor and odds against as a ratio of successes to failures, and translating back and forth between that ratio and a probability.

Contemporary Mathematics, 7.7 What Are the Odds?

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2 exercises

7.7 Exercise 3

Given the following probabilities of an event, find the corresponding odds for and odds against that event.

$P \left(E\right) = \frac{3}{5}$
$P \left(E\right) = 17 \%$

7.7 Exercise 5

Find $P \left(E\right)$ if $E$ :

The odds of $E$ are $2 : 1$ in favor
The odds of $E$ are $6 : 1$ against

Adapted from Contemporary Mathematics © 2023 Rice University. Licensed under CC BY 4.0. Source: Contemporary Mathematics. Imported at revision fa7c1a1.