Question: The odds that an event will occur are given by the ratio of the probability that the event will occur to the probability that it

The odds that an event will occur are given by the ratio of the probability that the event will occur to the probability that it will not occur, provided neither probability is zero. Odds are usually quoted in terms of positive integers having no common factor. Show that if the odds are A to B that an event will occur, its probability is P = A / A + B

Step by Step Solution

★★★★★

3.42 Rating (177 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

p 1 p A B ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

583-M-S-P (3959).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

Use the definition of odds given in Exercise 2.15 to convert each of the following probabilities to odds: (a) The probability that the last digit of a cars license plate is a 2, 3, 4, 5, 6, or 7 is...

If the odds are 4:7 that an event will occur, what is the corresponding probability?

Fill in the blank with an appropriate word, phrase, or symbol(s). If the probability that an event will occur is 2/3 then the probability that the event will not occur is 1/3, and the odds in favor...

If the odds that an event E will not occur are 23:57, what is the probability (a) That event E will occur? (b) That event E will not occur?

please let me know answers Re-useable launch vehicle uses a hydraulic system to move flight controls and other equipment. It is split into three sub-systems with pressure being provided from a number...

Recurrence Interval and Annual Probability Recurrence Interval also referred to as return period is the length of time between the occurrence of an event. We can define recurrence interval (RI) as...

Please help with these questions. Thanks! 5. Refer to the table which summarizes the results of testing for a certain disease. Positive Negative (4pts) Test Result Test Result Subject has the disease...

There is a major development project going on with over 100 developers. It is being performed on a cluster of 80 Linux and Solaris servers and workstations and a distributed file system over a large...

1: A probability experiment consists of rolling a fair 10-sided die. Find the probability of the event below. rolling a 6. (Round to 3 decimal places as needed) Question 2: A company that makes...

Please Read the article by clicking the link below then Read the article "Using Binary Logistic Regression to Investigate High Employee Turnover" available under Content forModule 6 (The 2 power...

On February 1, 2014, Quass Ltd. began selling electric scooters that it purchased exclusively from lonone Motors Inc. Ionone Motors offers vendor rebates based on the volume of annual sales to its...

A new client, John Dobson, recently formed Johns Premium Steakhouse, Inc., to operate a new restaurant. The restaurant will be a first-time business venture for John, who recently retired after 30...

Given the nature of the industrial remodel work and American's distaste for the work, comment on the minimum markup generated by the profit center. Should either of the markup rates be adjusted? Why?

What is felony-murder?

A multiple choice test contains 25 questions, each with four answers. Assume a student just guesses on each question. (a) What is the probability that the student answers more than 20 questions...

A particularly long traffic light on your morning commute is green 20% of the time that you approach it. Assume that each morning represents an independent trial. (a) Over five mornings, what is the...

Suppose the random variable X has a geometric distribution with p _ 0.5. Determine the following probabilities: (a) P(X = 1) (b) P(X =4) (c) P(X =8) (d) P(X

JA An amount of $21,000 invested for 7 years at the rate of 8% compounded continuously grows closest to what value? $29,500 $32,230 $36,000 $30,000 $36,760

1a)When retained earnings are exhausted, the MCC breaks upward. What happens if the firm continues to raise capital after that? Does the MCC remain flat or move further upward? In either case, why?...

Suppose we are thinking about replacing an old computer with a new one. The old one cost us $1,370,000; the new one will cost, $1,630,000. The new machine will be depreciated straight-line to zero...