Compute the probability of event E if the odds in favor of E are 4/1

Grace Jefferson

Grace Jefferson

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2022-08-18

Compute the probability of event E if the odds in favor of E are 41

Answer & Explanation

Saige Roy

Saige Roy

Beginner2022-08-19Added 5 answers

If P(E) is the probability of the event E, then
Odds for E=P(E)1P(E)=P(E)P(E)
41
Odds for E=P(E)1P(E)
41=P(E)1P(E)
Multiplying both sides by (1-P(E))
4×(1P(E))=P(E)
44P(E)=P(E)
Adding 4P(E) on both sides
44P(E)+4P(E)=P(E)+4P(E)
4=5P(E)
Dividing both sides by 5
P(E)=45

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