If the probability of event A is p, then the odds that it will occur are given
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If the probability of event A is p, then the odds that it will occur are given by the ratio of p to 1−p. Odds are usually given as a ratio of two positive integers having no common factor, and if an event is more likely not to occur than to occur, it is customary to give the odds that it will not occur rather than the odds that it will occur. What are the odds for or against the occurrence of an event if its probability is
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Probability And Statistics For Engineers
ISBN: 9780134435688
9th Global Edition
Authors: Richard Johnson, Irwin Miller, John Freund
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