Statistics and ProbabilityCompute the probability of event E if the odds in favor of E are (3)/(8)
4 weeks ago
Compute the probability of event E if the odds in favor of E are (3)/(8)
1 Answers
Best Answer
dashboardconfessionalliveatmsg Staff answered 4 weeks ago
If P(E) is the probability of the event E, then Odds for E= (P(E))/(1-P(E))= (P(E))/(P(E')) (3)/(8) Odds for E= (P(E))/(1-P(E)) -> (3)/(8)= (P(E))/(1-P(E)) Multiplying both sides by 8 and (1-P(E)) -> 3* (1-P(E))=8* P(E) -> 3-3P(E)=8P(E) Adding 3P(E) on both sides -> 3-3P(E)+3P(E)=8P(E)+3P(E) -> 3=11P(E) Dividing both sides by 11 -> P(E)= (3)/(11)
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