Find the odds in favor of an event with the following probability: $$P ( E ) = \frac { 3 } { 10 }$$
A) $3$ to $7$
B) $3$ to $10$
C) $7$ to $10$
D) $3$ to $13$
E) $7$ to $3$

Question

Quizplus · Accepted Answer

The odds in favor of an event are defined as the ratio of the probability of the event occurring to the probability of the event not occurring.

In this case, the probability of the event occurring is $P(E)=\frac{3}{10}$. The probability of the event not occurring is $1-P(E)=\frac{7}{10}$.

The ratio of the probability of the event occurring to the probability of the event not occurring is:
$$\frac{P(E)}{1-P(E)}=\frac{\frac{3}{10}}{\frac{7}{10}}=\frac{3}{7}$$

So, the odds in favor of the event are $3$ to $7$. Therefore, the best choice is A).

Find the Odds in Favor of an Event with the Following