Sometimes probability statements are expressed in terms of odds. The odds in favor of an event A are the following ratio. P(A) P(not A) = P(A) P(AC) For instance, if P(A) = 0.60, then P(A) = 0.40 and the odds in favor of A are 0.60 0.40 4 6 = 3 2 written as 3 to 2 or 3:2. (a) 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 Hint: Solve the following equation for P(A). n = P(A) m 1 - P(A) n(1 - P(A)) = ]) (P(A)) = ])P(A) - n nP(A) = n = 1)P(A) P(A) + P(A) n = )P(A) n n+m = P(A) (b) A telemarketing supervisor tells a new worker that the odds of making a sale on a single call are 2 to 19. What is the probability of a successful call? (Round your answer to two decimal places.) A sports announcer save that the odds a basketball player will make a free throw shot are 5 to 3 What is the probability the