menu
bartleby
search
close search
Hit Return to see all results

Compute the probability of an event E if the odds in favor of E are 2/5.

Question

Compute the probability of an event E if the odds in favor of E are 2/5.

check_circleAnswer
Step 1

Odds of an event:

The odds an event is given by the ratio of the probability of the event to its probability of compliment of the event. That is, the odds of an event E is given below.

Odds of an event = Number of favorable outcomes
Number of unfavorable outcomes
help_outline

Image Transcriptionclose

Odds of an event = Number of favorable outcomes Number of unfavorable outcomes

fullscreen
Step 2

Probability of an event:

The probability of an event is the number of favourable outcomes divided by the sum of number of favourable and unfavourable outcomes.

Number of favorable outcomes
P(P Number of favorable outcomes + Number of unfavorable outcomes
)=
help_outline

Image Transcriptionclose

Number of favorable outcomes P(P Number of favorable outcomes + Number of unfavorable outcomes )=

fullscreen
Step 3

Computation of probability of an event E:

It is given that odds in favour of E is 2/5.

That is, number of favourable outcomes is 2.

The number of unfavourable outcomes is 5.

By substituting the va...

2
P(E)
2 5
2
=0.2857
help_outline

Image Transcriptionclose

2 P(E) 2 5 2 =0.2857

fullscreen

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Our solutions are written by experts, many with advanced degrees, and available 24/7

See Solution
Tagged in

Math

Statistics

Other

Related Statistics Q&A

Find answers to questions asked by student like you

Show more Q&A add
question_answer

Q: figts, inclusive, are on time. 22. Morality In a recent poll, the Gallup Organization found that 45%...

A: Normal approximation to the binomial:From the given information, it is clear that n = 500The probabi...

question_answer

Q: This study investigated the cognitive effects of stimulant medication in children with Attention-Def...

A: Solution:The appropriate statistical analysis to determine if there is an effect of drug dose on CPT...

question_answer

Q: The market firm salary.com reported that the mean annual earnings of all family practitioners in the...

A: A. Hypotheses:Denote µ as the population mean salary for family practitioners in LA. The claim is th...

question_answer

Q: The range for a set of data is estimated to be 56. a. What is the planning value for the population ...

A: a. The planning value for the standard deviation is calculated as:

question_answer

Q: Jane has stored three albums on her iPod. The first album consists of 11 songs by Frank Sinatra, the...

A: According to the given question, Jane has stored three albums on her iPod.The first album consists o...

question_answer

Q: The state superintendent of schools consistently states that the average salary of all substitute te...

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you. ...

question_answer

Q: Given a standardized normal distrubtion (with a mean of 0 and a standard deviation of 1, as in Table...

A: Standard normal distribution:The standard normal distribution is a special case of normal distributi...

question_answer

Q: An office has three smoke detectors. In case of fire, each detector has probability 0.9 of detecting...

A: Probability of at least one event occurring:It is given that there are three smoke detectors and eac...

question_answer

Q: Question 1 The company Phiten makes necklaces that Major League Baseball players commonly wear durin...

A: a) an exogenous variable can be defined as a variable whose value is independent of other variables ...

Sorry about that. What wasn’t helpful?