Statistics and ProbabilityCompute the probability of event E if the odds in favor of E are (4)/(1)
4 weeks ago
Compute the probability of event E if the odds in favor of E are (4)/(1)
1 Answers
Best Answer
Fontanam18 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')) (4)/(1) Odds for E= (P(E))/(1-P(E)) -> (4)/(1)= (P(E))/(1-P(E)) Multiplying both sides by (1-P(E)) -> 4* (1-P(E))=P(E) -> 4-4P(E)=P(E) Adding 4P(E) on both sides -> 4-4P(E)+4P(E)=P(E)+4P(E) -> 4=5P(E) Dividing both sides by 5 -> P(E)= (4)/(5)
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