Sometimes probability statements are expressed in terms of odds. The odds in fav

Question

Sometimes probability statements are expressed in terms of odds. The odds in favor of an event A is the following ratio. P(A)/P(not A) = P(A)/P(A^c) For instance, if P(A) = 0.60, then P(A^C) = 0.40 and the odds in favor of A are 0.60/0.40 = 6/4 = 3/2, written as 3 to 2 or 3:2. Show that if we are given the odds in favor of event A as n:m, the probability of event A is given by the following. P(A) = n/n + m A telemarketing supervisor tells a new worker that the odds of making a sale on a single call are 6 to 17. What is the probability of a successful call? (Enter your answer to 2 decimal places.) A sports announcer says that the odds a basketball player will make a free throw shot are 4 to 5. What is the probability the player will make the shot? (Enter your answer to 2 decimal places.)

Explanation / Answer

(b) probability of succss = 6/(6+17) = 6/23 =0.26

(c)probability of the shot = 4/(4+5) = 4/9 = 0.44

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