Questions: If P(E)=0.71, find the odds in favor of E What are the odds in favor of E?

Solution Steps

To find the odds in favor of an event \( E \) given its probability \( P(E) \), we use the formula for odds in favor: \(\text{Odds in favor} = \frac{P(E)}{1 - P(E)}\).

1. Calculate the odds in favor using the given probability \( P(E) = 0.71 \).
2. Simplify the fraction to get the odds in the form of "a to b".

Given the probability \( P(E) = 0.71 \), we can calculate the odds in favor of event \( E \) using the formula:

\[ \text{Odds in favor} = \frac{P(E)}{1 - P(E)} \]

Substituting the value of \( P(E) \):

\[ \text{Odds in favor} = \frac{0.71}{1 - 0.71} = \frac{0.71}{0.29} \approx 2.4483 \]

To express the odds in favor as a ratio, we can simplify the fraction:

\[ \text{Odds in favor} = \frac{71}{29} \]

This means that for every 71 occurrences of event \( E \), there are 29 occurrences of the event not happening.

Final Answer