If the probability of an event is 0.33, then the odds are: (Round your answer to 2 decimal points.)2.031.33.50
Question
If the probability of an event is 0.33, then the odds are: (Round your answer to 2 decimal points.)2.031.33.50
Solution
The odds of an event is calculated by the formula:
Odds = Probability / (1 - Probability)
Given that the probability of the event is 0.33, we can substitute this into the formula:
Odds = 0.33 / (1 - 0.33)
This simplifies to:
Odds = 0.33 / 0.67
Calculating this gives:
Odds = 0.4925373134328358
Rounding this to two decimal places gives:
Odds = 0.49
So, the odds of the event are approximately 0.49.
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