The probability of winning an instant prize game is 1/10. The odds of winning a different instant
Question:
The probability of winning an instant prize game is 1/10. The odds of winning a different instant prize game are 1 : 10. You want the best chance of winning. Which game should you play? Explain your reasoning.
The chances of winning are often written in terms of odds rather than probabilities. The odds of winning is the ratio of the number of successful outcomes to the number of unsuccessful outcomes. The odds of losing is the ratio of the number of unsuccessful outcomes to the number of successful outcomes. For example, when the number of successful outcomes is 2 and the number of unsuccessful outcomes is 3, the odds of winning are 2 : 3 (read “2 to 3”).
Use this information about odds.
Step by Step Answer:
Elementary Statistics Picturing The World
ISBN: 9780134683416
7th Edition
Authors: Ron Larson, Betsy Farber