the probability of an event is 7/10. Find the odds in favor of this event occurring.
7 for
(10-7) = 3 against
odds for 7:3
To find the odds in favor of an event occurring, you can use the following formula:
Odds in favor = Probability of the event occurring / Probability of the event not occurring
In this case, the probability of the event occurring is 7/10.
The probability of the event not occurring is 1 - 7/10 = 3/10.
Using the formula:
Odds in favor = (7/10) / (3/10)
Simplifying the expression:
Odds in favor = (7/10) * (10/3)
Odds in favor = 70/30
The odds in favor of the event occurring are 70/30.
To find the odds in favor of an event occurring, we need to calculate the ratio of the probability of the event happening to the probability of the event not happening.
First, let's find the probability of the event not occurring. We know that the probability of an event occurring is 7/10, so the probability of the event not occurring can be calculated by subtracting the probability of the event happening from 1.
Probability of event not occurring = 1 - Probability of event occurring
= 1 - 7/10
= 3/10
Next, we can calculate the odds in favor of the event occurring by taking the ratio of the probability of the event happening to the probability of the event not happening.
Odds in favor of event occurring = Probability of event occurring / Probability of event not occurring
= (7/10) / (3/10)
= 7/3
Therefore, the odds in favor of the event occurring are 7/3.