Presentation on theme: "Probability and Odds Foundations of Algebra. Odds Another way to describe the chance of an event occurring is with odds. The odds in favor of an event."— Presentation transcript:
Odds Another way to describe the chance of an event occurring is with odds. The odds in favor of an event is the ratio that compares the number of ways the event can occur to the number of ways the event cannot occur. We can determine odds using the following ratios: Odds in Favor = number of successes number of failures Odds against = number of failures number of successes
Example 1 Suppose we play a game with 2 number cubes. If the sum of the numbers rolled is 6 or less – you win! If the sum of the numbers rolled is not 6 or less – you lose! In this situation we can express odds as follows: Odds in favor =numbers rolled is 6 or less numbers rolled is not 6 or less Odds against = numbers rolled is not 6 or less `numbers rolled is 6 or less
Example 2 Find the favorable odds of choosing the indicated letter from a bag that contains the letters in the name of the given state. Choose a S from Mississippi Choose a N from Pennsylvania Choose an A from Nebraska Choose a G from Virginia
Example 3 A bag contains 5 yellow marbles, 3 white marbles, and 1 black marble. What are the odds drawing a white marble from the bag? Odds in favor = number of white marbles 3 number of non-white marbles 6 Odds against = number of non-white marbles 6 number of white marbles 3 Therefore, the odds for are 1:2 and the odds against are 2:1
Example 4 TThere are 12 colored marbles in a bag, and 3 of them are blue. What are the odds for drawing a blue marble from the bag?
Example 5 What are the odds that you will win the prize if you hold 50 raffle tickets of the 1500 tickets sold at a charity affair?
Example 6 You randomly choose an integer from 0 through 9. What are the odds that the integer is 4 or more? T here are 6 favorable outcomes, 4, 5, 6, 7, 8, and 9. There are four unfavorable outcomes 0, 1, 2, 3. Odds = Number of favorable outcomes out of Number of unfavorable outcomes so