Compute the probability of event E if the odds in favor of E are 11/7

Loldi9s

Loldi9s

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2022-08-20

Compute the probability of event E if the odds in favor of E are 117

Answer & Explanation

saniraore

saniraore

Beginner2022-08-21Added 7 answers

If P(E) is the probability of the event E, then
Odds for E=P(E)1P(E)=P(E)P(E)
117
Odds for E=P(E)1P(E)
117=P(E)1P(E)
Multiplying both sides by 7 and (1-P(E))
11×(1P(E))=7×P(E)
1111P(E)=7P(E)
Adding 11P(E) on both sides
1111P(E)+11P(E)=7P(E)+11P(E)
11=18P(E)
Dividing both sides by 18
P(E)=1118

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