oddsDEF.pdf - Definition quoted from page 79 Ross(see below for complete reference The odds of an event A is defined by P(A P(A = P(Ac 1 P(A That is the

# oddsDEF.pdf - Definition quoted from page 79 Ross(see below...

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Definition, quoted from page 79 Ross (see below for complete reference) : The odds of an event A is defined by P ( A ) P ( A c ) = P ( A ) 1 - P ( A ) That is, the odds of an event A tells how much more likely it is that the event A occurs than it is that it does not occur. For instance, if P ( A ) = 2 3 , then P ( A ) = 2 P ( A c ), so the odds is 2. If the odds are equal