Question

In: Statistics and Probability

Determine the odds for and against the event E if P(E)=6

Determine the odds for and against the event E if P(E)=6

Solutions

Expert Solution

Given:
P(E) = 0.6

So,

P(Not E) = 0.4

(i)

Odds for the event E = 0.6 : 0.4

                                = 6 : 4

                                = 3 : 2

So,

Answer is:

3 : 2

(ii)

Odds against the event E = 0.4 : 0.6

                                = 4 : 6

                                = 2: 3

So,

Answer is:

2 : 3

orchestra answered 1 year ago
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