Compute the probability of event E if the odds in favor of E are 3/8

kilmchixvoicktf

kilmchixvoicktf

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2022-08-19

Compute the probability of event E if the odds in favor of E are 38

Answer & Explanation

tanketungue

tanketungue

Beginner2022-08-20Added 5 answers

If P(E) is the probability of the event E, then
Odds for E=P(E)1P(E)=P(E)P(E)
38
Odds for E=P(E)1P(E)
38=P(E)1P(E)
Multiplying both sides by 8 and (1-P(E))
3×(1P(E))=8×P(E)
33P(E)=8P(E)
Adding 3P(E) on both sides
33P(E)+3P(E)=8P(E)+3P(E)
3=11P(E)
Dividing both sides by 11
P(E)=311

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