Ques 1= Describe how "odds" ties into the ratio method for calculating probabilities from expert opinion. Based on what you now know about odds, describe in words how to calculate the probability of two MECE events from their odds using the ratio method.

Ques 2 = Suppose you have four possible risk scenarios labeled Q, R, S, and T. Your initial semi-quantitative analysis found that Q is more likely than R, R is more likely than S, and S is more likely than T. After a few weeks of waiting, you received a report that claimed that P(S) = 0.2 and P(Q) = 0.5. Is this possible?

Ques 3= Suppose you have three possible risk scenarios X, Y, and Z. Your initial assessment found that X is twice as likely as Z, and Y is three times as likely as Z. What is P(X), P(Y), and P(Z)?

Ques 4= Explain where the expanded expression for Pr(o,e) comes from.