Describe the differences between odds and probability

Assignment Help Mathematics
Reference no: EM131208449

People often have trouble distinguishing odds from probability. Why do you suppose that is? Describe the differences between odds and probability. What do you do to keep the two concepts separate in your mind? Give examples to illustrate your position.

Reference no: EM131208449

Questions Cloud

Definition of accounts receivable days : An employee at Pilot enlists your help in estimating the company’s average accounts receivable days. The definition of accounts receivable days for this question is the average number of days it takes for Pilot to receive funds after a customer’s inv..
What is the partnerships basis in the assets contributed : Annie, Betty, and Carla formed the ABC partnership. They contributed the following assets. Annie contributed cash of $20000 and services valued at $60000. Betty contributed land with a basis of $50000 and FMV of $105000. Attached to the land is a mor..
Increasing interest in touring the place : There is increasing interest in touring the place of your birth- the places you played, the places you ate, the stores where your food was purchased. And who better to give such tours than you? You decide to charge $50 per person.
Summarize the ethical challenges involving dna databases : Differentiate the scientific processes for different types of trace evidence. Summarize the ethical challenges involving DNA databases. Analyze the legal issues related to pre-conviction collection of DNA samples.
Describe the differences between odds and probability : People often have trouble distinguishing odds from probability. Why do you suppose that is? Describe the differences between odds and probability. What do you do to keep the two concepts separate in your mind? Give examples to illustrate your ..
Due to excessive production : Walsh Company expects sales of Product W to be 68,000 units in April, 83,000 units in May and 78,000 units in June. The company desires that the inventory on hand at the end of each month be equal to 30% of the next month's expected unit sales. Due t..
What is the time constant of the circuit with s-one closed : What is the time constant of the circuit with S1 closed? What is the eventual steady-state current with S1 closed? What is the value of the circuit current at the first instant S1 is closed? (t = 0s)?
What do you advise burt about his contract with hotel : What do you advise Burt about whether the agreement between Jordan and Burt is a valid, enforceable sales agreement so that Burt should receive a full cash refund for the luggage - and why?
How do these property transactions differ : How do these property transactions differ from commodity supply chain transactions - What advantage do the real estate company and the law firm gain by adopting their client's technology platform (Lotus Notes/Domino)?

Reviews

Write a Review

 

Mathematics Questions & Answers

  Rate of change of area of isoceles triangle

The included angle of the two sides of contant equal length s of an isosceles triangle is Z degrees. Show that the area of the triangle is given by A = 1/2s^2 sin Z

  Draw a punnet square

In dogs, wire hair is dominant to smooth hair. If a homozygous dominant dog is bred to a smooth haired dog: State the phenotype of F1 individuals and draw a punnet square. draw a punnet square

  Solve the equation for the ellipse for y in terms of x

Use calculus to find the dimension (base and height) and the area of the largest rectangle that can be inscribed in the ellipse x2/144 + y2/16 = 1

  Transition matrix corresponding to the change of basis

(a) Find the transition matrix corresponding to the change of basis from [e1, e2, e3] to [u1, u2, u3]. (b) Find the coordinates of each of the following vectors with respect to [u1, u2, u3].

  Effects on the response variable

Two factors are extraneous if their effects on the response variable cannot be distinguished from one another.

  The initial price of a cup of coffee is 15 and at that

the initial price of a cup of coffee is 1.5 and at that price 200 cups are demanded. if the price falls to 0.90 the

  Determine whether the mean value theorem applies

Determine whether the mean value Theorem applies to the following functions on the given interval [a,b] and if, so find or approximate the point(s) that are guaranteed to exist by the mean value theorem.

  What is the minimum amount of time needed for the crocodile

A crocodile is stalking prey located 20 metres further upstream on the opposite bank of a river. What is the minimum amount of time needed for the crocodile to catch its prey?

  Write a rule to describe the function

An employee receives a weekly salary of $310 and a 4% commision on all sales

  What is the least number of cups of lemonade they need

Carolyn and kim are selling lemonade this fall. It costs $0.10 to make each cup of lemonade. They are going to sell each cup of lemonade for $0.30. What is the least number of cups of lemonade they need to sell in order to collect $10.00 more than..

  Determine the probability of passing

For someone who makes random guesses for all of the questions, find the probability of passing if the minimum passing grade is 80 %.

  How fast is the area of the circle increasing

Suppose that fluid is leaking from an overhead pipe and spreading in the shape of a circle on the ground. If the radius of the circle is increasing at a rate of 0.5 feet per minute, how fast is the area of the circle increasing when the radius is ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd