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OpenStudy (anonymous):
a student wants to know why if the odds in favor of an event are 3:4 the probability of an event occuring is not 3/4.How do you respond
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OpenStudy (anonymous):
odds are not the same as probability. odds are the probability in favor over the probability against. so for example if the odds are 3:4 then out of 7 times your event occurs 3, and doesn't occur 4 making the probability in favor \(\frac{3}{7}\)
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