(a) Show that if we are given the odds in favor of event A as n:m, the probability of event A is given by the following. in P(A) !! n + m Hint: Solve the following equation for P(A).
(a) Show that if we are given the odds in favor of event A as n:m, the probability of event A is given by the following. in P(A) !! n + m Hint: Solve the following equation for P(A).
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question
Transcribed Image Text:st Has Developed A
Sometimes probability statements are expressed in terms of odds. The odds in favor of an event A are the following ratio.
P(A)
P(A)
%3D
P(not A)
P(A^)
For instance, if P(A) = 0.60, then P(A^) = 0.40 and the odds in favor of A are
0.60
6
written as 3 to 2 or 3:2.
2'
%3D
%D
0.40
4
(a) Show that if we are given the odds in favor of event A as n:m, the probability of event A is given by the following.
P(A) = _"
n + m
Hint: Solve the following equation for P(A).
P(A)
1 – P(A)
n(1 – P(A))
X (P(A))
%3D
n – nP(A)
X P(A)
n =
X P(A) + nP(A)
(A)
n =
P(A)
n + m
(b) A telemarketing supervisor tells a new worker that the odds of making a sale on a single call are 2 to 13. What is the probability of a successful call? (Round your
answer to two decimal places.)
16
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Transcribed Image Text:1 - P(A)
n(1 - P(A))
X (P(A))
n- nP(A) =
X P(A)
n =
X P(A) + nP(A)
x P(A)
Jas
in
P(A)
n + m
(b) A telemarketing supervisor tells a new worker that the odds of making a sale on a single call are 2 to 13. What is the probability of a successful call? (Round your
answer to two decimal places.)
(c) A sports announcer says that the odds a basketball player will make a free throw shot are 5 to 7. What is the probability the player will make the shot? (Round your
answer to two decimal places.)
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