In a carnival drawing, a green ticket wins $1, a yellow ticket wins $5, and a blue ticket wins $10. There are 100 green tickets, 25 yellow tickets and 5 blue tickets. In simplest form, what are the odds in favor of winning $5 or more?
first probability of winning $5 or more
how many tickets total? 100 + 25 + 5 = 130
how many are yellow or blue? 25+5 = 30
so probability of success = 30/130
now probability of failure = 100/130
odds = prob of success / prob of failure = 30/100 = 3/10
I think 3:10
https://www.thoughtco.com/how-are-odds-related-to-probability-3126553
To find the odds in favor of winning $5 or more, we need to determine the total number of tickets that win $5 or more and divide it by the total number of tickets available.
First, let's determine the number of tickets that win $5 or more. Since a yellow ticket wins $5 and a blue ticket wins $10, we need to add the number of yellow tickets and blue tickets together: 25 + 5 = 30.
Now, let's find the total number of tickets available. We need to add the number of green tickets, yellow tickets, and blue tickets: 100 + 25 + 5 = 130.
So, the odds in favor of winning $5 or more can be expressed as a fraction: 30/130.
To simplify this fraction to its simplest form, we can divide both the numerator and denominator by their greatest common divisor, which in this case is 10: 30/130 = (30 ÷ 10) / (130 ÷ 10) = 3/13.
Therefore, the odds in favor of winning $5 or more are 3/13.
How can I win $5 or more ? --- By drawing a yellow or blue ticket.
How many yellows and blues do you have ??
How many total tickets??
What is the prob of a yellow or blue ??
Can you find the odds of that?
Let me know your answer.