If the odds in favour of an event be 33, find the probability of the occurrence of the event.
Let the given event be E and let P(E)=x. Then,
odds in favour of E =P(E)1−P(E)
⇔P(E)1−P(E)=35⇔x(1−x)=35
⇔5x=3−3x⇔8x=3⇔x=38
∴ Required probability =38
If odds in favoui-e(gn event be 2 : 3, find the probability of occurrence of this event.
If the probability of the occurrence of a certain event E is 311, find
(i) The odds in favour of its occurrence. and
(ii) The odds against its occurrence.