Concept explainers
Odds The chances of winning are often written in terms of odds rather than probabilities. The odds of winning is the ratio of the number of successful outcomes to the number of unsuccessful outcomes. The odds of losing is the ratio of the number of unsuccessful outcomes to the number of successful outcomes. For example, when the number of successful outcomes is 2 and the number of unsuccessful outcomes is 3, the odds of winning are 2:3 (read “2 to 3”). In Exercises 91–96, use this information about odds.
96. The odds of winning an
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