Compute the probability of event E if the odds in favor of E are 49/51

Eden Serrano

Eden Serrano

Open question

2022-08-20

Compute the probability of event E if the odds in favor of E are 4951

Answer & Explanation

Cristofer Briggs

Cristofer Briggs

Beginner2022-08-21Added 8 answers

If P(E) is the probability of the event E, then
Odds for E=P(E)1P(E)=P(E)P(E)
4951
Odds for E=P(E)1P(E)
4951=P(E)1P(E)
Multiplying both sides by 51 and (1-P(E))
49×(1P(E))=51P(E)
4949P(E)=51P(E)
Adding 49P(E) on both sides
4949P(E)+49P(E)=49P(E)+51P(E)
49=100P(E)
Dividing both sides by 100
P(E)=49100

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