Odds

How to express a level of confidence about an outcome:

The odds in favour of an event occurring are given by the ratio of the probability that the event will occur to the probability that it will not occur:
Odds in favour of A = P(A) / P(A) Odds in favour of an event is a common way to express a probability.

How to express a level of confidence about an outcome:

Odds in favour of A = P(A) / P(A)

P(A) + P(A) = 1

Odds against A = P(A) / P(A)

Odds in favour of A = n(A) / n(A) Since the denominators will be cancelled out Odds against A = n(A) / n(A)

A desk contains three red pens, five blue pens and four black pens. What are the odds in favour of randomly drawing a red pen.
P(A) = 3/12 =

The probability of not drawing a red pen is 1 P(A) =

Using the definition / = 1/3 It is read as 1 to 3 So, Odds in favour of A = P(A) / P(A) And Odds against A = P(A) / P(A)

If the chance of winning a basketball game is 0.4, what are the odds against winning the game? Is a win more likely than not?
Event A winning a game Odds against A = P(A) / P(A) = 1 P(A) / P(A)

= 0.6 / 0.4 = 3:2

If 50/50 is 1:1, so a win is LESS likely to occur than not. It is more likely not to win.

An amazing math teacher, in an attempt to promote good study habits, states that the odds of passing his course are 8 to 1 when a student misses fewer than 5 classes (defining good attendance). What is the probability that a student with good attendance will pass?
Let event A be student passing with good attendance. Odds in favour of A = P(A) / P(A) = 8/1

8 = P(A) = P(A) 1 P(A) 1 P(A)

8[1 P(A)] = P(A) 8 8P(A) = P(A) 8 = 9P(A) P(A) = 8/9 The probability of a student with good attendance passing is 8/9 or approximately 89%.

So, if the odds in favour of A = h/k, then P(A) = h / (h+k)

The odds of Mr Lambert hitting a three point shot are 3:8. What is the probability of Mr Lambert hitting a three point shot?