math621a chp5 2 probabilityandodds w2016...
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Math621A_Chp5_2_ProbabilityAndOdds_W2016_wNotes.notebook
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March 30, 2016
Chapter 5.2 Probability and Odds
Odds are a way to show the confidence that a certain event will occur
Just like in set theory there is a compliment to every event. The probability of an event and it's compliment would be equal to 1 (or 100%).
or
1) Odds in Favor
ratio of favorable outcomes to unfavorable outcomes
2) Odds Against
ratio of unfavorable outcomes to favorable outcomes
or
If you were given the odds in favor of an event occurring F:A then you can find the probability of this P(F) by;
If P(A') is the complement of the event A then;
P(A') = 1 - P(A)
Ex. If the probability of the rolling a two with a standard die P(two) is 1/6 then the what is the probability of not rolling a two P(two') ?
Two different ways we can also express odds are;
Math621A_Chp5_2_ProbabilityAndOdds_W2016_wNotes.notebook
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March 30, 2016
P. 305
Math621A_Chp5_2_ProbabilityAndOdds_W2016_wNotes.notebook
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March 30, 2016
Complete exercises: p.310-312 # 1 - 18