One of the two events A and B must occur.If p(A)=2÷3p(B)the odds in favour of B is
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Solution
We have p(A) = 2/3 p(B) The odds in favour of B is the number of ways B can occur divided by the number of ways B cannot occur = p(B) /(1-p(B) ) Since either p(A) or p(B) must ocur, p(A) = 1-p(B) Hence odds in favour of B = p(B)/p(A) = 3/2.