In a longitudinal economic development study,market research indicated that the odds of a new business succeeding after five years are 1 to 9.That means that the probability of a business actually succeeding is:
A)0.11
B)0.10
C)0.09
D)0.08

Question

Quizplus · Accepted Answer

The odds of 1 to 9 mean there is 1 successful outcome for every 9 unsuccessful ones. The probability of success is the number of successful outcomes divided by the total number of outcomes: 1/(1+9) = 1/10 = 0.10.

In a Longitudinal Economic Development Study,market Research Indicated That the Odds