Understanding Probability and Odds

The video tutorial explains how to determine probability from given odds, using two examples. The first example involves calculating the probability of an event A given odds in favor, while the second example deals with odds against an event B. The tutorial covers expressing probability as a fraction, decimal, and percentage, and emphasizes using exact values in homework.

What do the odds in favor of an event compare?

• The number of favorable outcomes to the probability of the event

• The number of favorable outcomes to the total outcomes

• The number of unfavorable outcomes to the total outcomes

• The number of favorable outcomes to the number of unfavorable outcomes

If the odds in favor of an event are 1.7 to 1, what is the total number of outcomes?

• 3.7

• 1

• 2.7

• 1.7

How can the probability of an event be expressed?

• Only as a percentage

• As a fraction, a decimal, or a percentage

• Only as a fraction

• Only as a decimal

What is the probability of event A if the odds in favor are 1.7 to 1?

• 0.8

• 0.7

• 0.6296

• 0.5

What does the number 8 represent in the odds against an event B of 8 to 3?

• Probability of the event

• Number of favorable outcomes

• Total number of outcomes

• Number of unfavorable outcomes

If the odds against an event are 8 to 3, what is the total number of outcomes?

• 8

• 5

• 11

• 3

What is the probability of event B occurring if the odds against it are 8 to 3?

• 1/11

• 5/11

• 8/11

• 3/11

How is the probability of event B expressed as a decimal?

• 0.8

• 0.2727

• 0.5

• 0.7

What is the percentage form of the probability of event B?

• 27.27%

• 50%

• 80%

• 70%

In homework, how should the probability be entered?

• As a ratio

• As a fraction

• As a percentage

• As a decimal