To find the odds in favor of an event given its probability, we use the formula:
Odds in favor = Probability of the event / (1 - Probability of the event)
In this case, the probability is 0.3.
Odds in favor = 0.3 / (1 - 0.3)
Odds in favor = 0.3 / 0.7
Odds in favor = 0.4286
Therefore, the odds in favor of the event with a probability of 0.3 is 0.4286. This can also be expressed as 3.857:1.
The probability of an event is given. Find the odds in favor of the event.
0.3
1 answer