The probability of an event is given. Find the odds in favor of the event.
0.3
To find the odds in favor of an event given its probability, we use the formula:
Odds in favor = Probability of the event / (1 - Probability of the event)
In this case, the probability is 0.3.
Odds in favor = 0.3 / (1 - 0.3)
Odds in favor = 0.3 / 0.7
Odds in favor = 0.4286
Therefore, the odds in favor of the event with a probability of 0.3 is 0.4286. This can also be expressed as 3.857:1.