odds - odds against an earthquake are .75 to .25 or 3 to 1...

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ODDS AND PROBABILITIES From probability to odds From odds to probability
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From Probability to Odds If event A has  probability P(A), then  the odds in favor  of A  are P(A) to 1-P(A).  It  follows that the odds  against  A are 1-P(A)  to P(A) If the probability of an  earthquake in  California is .25, then  the odds in favor  of  an earthquake are .25  to .75 or 1 to 3.  The 
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Unformatted text preview: odds against an earthquake are .75 to .25 or 3 to 1 From Odds to Probability If the odds in favor of an event E are a to b, then P(E)=a/(a+b) in addition, P(E)=b/(a+b) If the odds in favor of Duke winning the NCAAs are 3 (a) to 1 (b), then P(Duke wins)=3/4 P(Duke does not win)= 1/4...
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odds - odds against an earthquake are .75 to .25 or 3 to 1...

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