If the odds of winning a raffle are 2:240, what is the probability of winning?
I think it's 2/240??
Study this site.
http://www.math-magic.com/probability/prob_to_odds.htm
2 + 240 = 240, so the probability of winning is 2/242??
Looks right to me.
Yes, you're correct! The probability of winning can be calculated by taking the number of favorable outcomes (in this case, winning) divided by the total number of possible outcomes. In this case, the odds of winning are given as 2:240, which means there are 2 favorable outcomes out of 240 total possible outcomes.
So, the probability of winning the raffle is indeed 2/240, which can also be simplified to 1/120.