Sometimes probability statements are expressed In terms of odds. The odds In fav

Question

Sometimes probability statements are expressed In terms of odds. The odds In favor of an event A is the following ratio. P(A)/P{not A) = P(A)/P(A^c) For instance, if P{A) = 0.60, then P(A^c) = 0.40 and the odds in favor of A are 0.60/0.40 = 6/4 = 3/2, written as 3 to 2 or 3:2. Show that if we are given the odds in favor of event A as n:m, the probability of event A is given by the following, P(A) = n/n + m A telemarketing supervisor tells a new worker that the odds of making a sale on a single call are 6 to 17. What is the probability of a successful call? (Enter your answer to 2 decimal places.) A sports announcer says that the odds a basketball player will make a free throw shot are 4 to 5. What is the probability the player will make the shot? (Enter your answer to 2 decimal places.)

Explanation / Answer

Solution:-
(b) 6 : 17
= 6 / (6 + 17)
= 6 / 23
= 0.261

(c) 4 / (4 + 5)

= 4 / 9
= 0.44
  

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