A brief explanation and the differences between odds and probability. Show
Definition of Odds: Odds in probability of a particular event, means the ratio between the number of favorable outcomes to the number of unfavorable outcomes. Odds in favor and odds in against – probability: Odds in favor: Odds in favor of a particular event are given by Number of favorable outcomes to Number of unfavorable outcomes. Number of favorable outcomes For example; Find the odds in favor of throwing a die to get “3 dots”. Solution: Total number of outcomes in throwing a die = 6 Number of favorable outcomes = 1 Number of unfavorable outcomes = (6 - 1) = 5 Therefore, odds in favor of throwing a die to get “3 dots” is 1 : 5 or 1/5 Odds against: Odds against is given by Number of unfavorable outcomes to number of favorable outcomes.
Number of unfavorable outcomes For example; Find the odds in against of throwing a die to get “3 dots”. Solution: Total number of outcomes in throwing a die = 6 Number of favorable outcomes = 1 Number of unfavorable outcomes = (6 - 1) = 5 Therefore, odds in against of throwing a die to get “3 dots” is 5 : 1 or 5/1 Then, Probability of the event= Number of favorable outcomes
Worked-out Problems on Odds and Probability: 1. If odds in favor of X solving a problem are 4 to 3 and odds against Y solving the same problem are 2 to 6. Find probability for: (i) X solving the problem (ii) Y solving the problem Solution: Probability of the event = Number of favorable outcomes Given odds in favor of X solving a problem are 4 to 3. Number of favorable outcomes = 4 Number of unfavorable outcomes = 3 (i) X solving the problem P(X) = P(solving the problem) = 4/(4 + 3) = 4/7 Given odds against Y solving the problem are 2 to 6 Number of favorable outcomes = 6 Number of unfavorable outcomes = 2 (ii) Y solving the problem P(Y) = P(solving the problem) = 6/(2 + 6) = 6/8 = 3/4 2. What is the difference between odds and probability? Solution: The difference between odds and probability are: Odds of an event are the ratio of the success to the failure.
success Probability of an event is the ratio of the success to the sum of success and failure. success Probability Probability Random Experiments Experimental Probability Events in Probability Empirical Probability Coin Toss Probability Probability of Tossing Two Coins Probability of Tossing Three Coins Complimentary Events Mutually Exclusive Events Mutually Non-Exclusive Events Conditional Probability Theoretical Probability Odds and Probability Playing Cards Probability Probability and Playing Cards Probability for Rolling Two Dice Solved Probability Problems Probability for Rolling Three Dice 9th Grade Math From Odds and Probability to HOME PAGE Didn't find what you were looking for? Or want to know more information about Math Only Math. Use this Google Search to find what you need. Which of the following is the ratio of the number of favorable outcomes to the number of unfavorable outcomes?Odds is the ratio that compares the number of favorable outcomes of an event to the number of unfavorable outcomes.
Which of the following is the ratio of the number of favorable outcomes to the number of possible outcomes?The theoretical probability is defined as the ratio of the number of favourable outcomes to the number of possible outcomes.
Which of the following refers to the ratio of the number of favorable outcomes and the total number of possible outcomes obtained in an actual experiment?The probability of any event is equal to the ratio of favorable outcomes to the total number of equally likely possible outcomes.
Which of the following refers to the ratio of the number of ways the event can occur to the number of outcomes?Odds are used to describe the chance of an event occurring. The odds are the ratios that compare the number of ways the event can occur with the number of ways the event cannot occurr. The odds in favor - the ratio of the number of ways that an outcome can occur compared to how many ways it cannot occur.
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